March 17, 2026

LEM Capital Acquires Orange County Property

Philadelphia, PA – LEM Capital, L.P. (“LEM”) has acquired Sunrise Fountains Apartments (the “Property”), a 132-unit multifamily community built in 1989. LEM plans to execute a comprehensive value-add business plan focused on enhancing the Property’s amenity set, improving the building exteriors, and upgrading apartment interiors. The Property, which has been rebranded Palmera, was acquired in partnership with Benedict Canyon Equities, a repeat, West Coast-based operating partner with significant experience in the Southern California multifamily market.

Orange County is one of the nation’s most established and institutionally competitive multifamily markets. Located in Anaheim, the Property benefits from easy access to many of Orange County’s prominent employment nodes via I-5, including Irvine, Costa Mesa, Long Beach, and Newport Beach. The surrounding area is anchored by a diverse mix of employment drivers including healthcare, education, tourism, and professional services, with major institutions such as UCI Medical Center, Children’s Hospital of Orange County, the Anaheim Convention Center, Disneyland Resort and the Platinum Triangle, a rapidly evolving mixed-use district that continues to attract new investment, employment growth, and residential demand. The combination of strong employment access, high barriers to entry, and Orange County’s historically resilient housing market positions Sunrise Fountains to benefit from sustained rental demand.

Palmera has been owned and self-managed by its original developer since construction, presenting a unique opportunity to implement professionalized management and capture an existing loss-to-lease. The Property offers residents a full amenity set including a swimming pool, fitness center, clubhouse, and grilling and picnic areas. Palmera also features a large subterranean parking structure with a parking ratio that is well above many comparable properties in the submarket. The capital improvement program includes renovating apartment interiors, installing washer and dryer connections, enhancing the amenity spaces, and improving the Property’s overall curb appeal and sense of arrival.

“We are very excited to re-enter the Orange County market with one of our proven operating partners,” said Kevin Weidman, a Managing Director at LEM. “The Property offers a unique mix of operational and physical upside in a very dynamic, supply-constrained submarket.”

About LEM Capital

LEM Capital is a real estate private equity firm with a 23-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.

The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can create value through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of nationwide operating partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight, all led by the firm’s partners. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.

Since 2002, LEM has raised approximately $1.8 billion in investor commitments and invested over $9.5 billion in real estate value contributing to their expertise in structuring, execution and asset management. This includes acquiring over 28,000 value-add apartment units since 2011.

Notes: All data as of February 2026, unless otherwise noted.