Key Takeaways
- • JLL Capital Markets secured $55.75 million in acquisition financing for Tempo at Riverpark, a 235-unit Class A multifamily property in Oxnard, California, on behalf of Hines U.S. Property Partners (HUSPP).
- • The five-year loan was arranged through a bank for the Class A community located at 450 Forest Park Boulevard in the Riverpark master-planned community, currently operating at 95.7% occupancy as of December 2025.
- • Tempo at Riverpark features premium positioning with walkable access to The Collection at Riverpark, a 650,000-square-foot retail destination anchored by Whole Foods and Target that attracts 10.2 million annual visitors and ranks No. 1 in regional visitation.
- • Ventura County multifamily fundamentals remain strong with average annual rent growth of 4.5% over the past decade and historical occupancy averaging 96%, supporting continued investment demand in the market.
- • The property, built in 2016, offers spacious units averaging 955 square feet with premium finishes, in-unit laundry, and community amenities including a 24-hour fitness center, luxury pool and spa, and private garages for select units.
Summary
JLL Capital Markets announced the successful placement of $55.75 million in acquisition financing for Tempo at Riverpark, a 235-unit Class A multifamily community located in Oxnard, California. The five-year loan was arranged through a bank on behalf of Hines U.S. Property Partners (HUSPP), the flagship commingled U.S. core plus fund sponsored by Hines. JLL represented the borrower throughout the transaction, leveraging its capital markets expertise to secure favorable terms for the institutional investor.
The property, situated at 450 Forest Park Boulevard within Oxnard's Riverpark master-planned community, represents a high-quality suburban multifamily asset built in 2016. As of December 2025, Tempo at Riverpark maintains strong operational performance with 95.7% occupancy. The community is distinguished by its premium location offering immediate walkable access to The Collection at Riverpark, a 650,000-square-foot open-air shopping destination anchored by major retailers Whole Foods and Target. The retail center generates over 10.2 million annual visits and ranks No. 1 in visitation within a 15-mile radius and No. 5 statewide in California, providing significant foot traffic and tenant durability.
The underlying Ventura County market continues to demonstrate robust fundamentals. The county has achieved average annual rent growth of approximately 4.5% over the past decade, with historical occupancy rates averaging 96%. This stable performance is supported by healthy demand fundamentals and limited new supply additions, creating favorable conditions for core and core plus multifamily investments. Tempo at Riverpark capitalizes on these market tailwinds with 235 spacious units averaging 955 square feet, featuring premium finishes including in-unit laundry, stainless-steel appliances, and private patios or balconies. Community amenities include a 24-hour fitness center, luxury pool and spa, resort-style cabana seating, resident lounge with gas fireplace, and private garages for select units.
The transaction was executed by the JLL Capital Markets Debt Advisory team, led by President Kevin Mackenize, Managing Directors Annie Rice and Brandon Smith, Director Gyasi Edmondson, and Analyst Alyssa Malley. This financing secures continued institutional ownership and positions the asset to capitalize on sustained Ventura County multifamily demand.
The property, situated at 450 Forest Park Boulevard within Oxnard's Riverpark master-planned community, represents a high-quality suburban multifamily asset built in 2016. As of December 2025, Tempo at Riverpark maintains strong operational performance with 95.7% occupancy. The community is distinguished by its premium location offering immediate walkable access to The Collection at Riverpark, a 650,000-square-foot open-air shopping destination anchored by major retailers Whole Foods and Target. The retail center generates over 10.2 million annual visits and ranks No. 1 in visitation within a 15-mile radius and No. 5 statewide in California, providing significant foot traffic and tenant durability.
The underlying Ventura County market continues to demonstrate robust fundamentals. The county has achieved average annual rent growth of approximately 4.5% over the past decade, with historical occupancy rates averaging 96%. This stable performance is supported by healthy demand fundamentals and limited new supply additions, creating favorable conditions for core and core plus multifamily investments. Tempo at Riverpark capitalizes on these market tailwinds with 235 spacious units averaging 955 square feet, featuring premium finishes including in-unit laundry, stainless-steel appliances, and private patios or balconies. Community amenities include a 24-hour fitness center, luxury pool and spa, resort-style cabana seating, resident lounge with gas fireplace, and private garages for select units.
The transaction was executed by the JLL Capital Markets Debt Advisory team, led by President Kevin Mackenize, Managing Directors Annie Rice and Brandon Smith, Director Gyasi Edmondson, and Analyst Alyssa Malley. This financing secures continued institutional ownership and positions the asset to capitalize on sustained Ventura County multifamily demand.
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