Amonte Living Launches $500M Bid on Western Multifamily Correction

LOS ANGELES, CA – January 21, 2026 – In a significant move signaling a strategic pivot in the real estate market, Arselle Investments and Amoroso Companies have officially launched Amonte Living, a new platform poised to acquire up to $500 million in multifamily properties across the Western United States. The venture aims to capitalize on a market undergoing a deep correction, targeting opportunities created by stabilizing fundamentals and pressure on overleveraged property owners.

This formalization follows a productive 2025 for the two Southern California firms, which partnered to acquire three properties in the Los Angeles area for approximately $90 million. The creation of Amonte Living now provides a dedicated vehicle to aggressively expand this portfolio over the next two to three years, combining institutional capital prowess with decades of operational experience in a calculated bet on the future of Western U.S. housing.

A 'Compelling Time' for Multifamily Investment

Amonte Living enters a market starkly different from the frenzied environment of just a few years ago. After a post-pandemic rent surge of over 21% between 2021 and 2022, rent growth in the West has normalized, increasing just 1.9% over the past two years. This slowdown, coupled with a regional vacancy rate that has climbed to 6.4%, has created what Arselle Founder and Managing Partner Aaron Greeno calls a “compelling time to invest in multifamily assets.”

The venture's strategy hinges on the “substantial re-pricing” that has occurred sector-wide. After apartment sales volume in the West plunged 60% in 2023, activity is rebounding as buyers and sellers adjust to new pricing realities shaped by higher borrowing costs. Amonte Living plans to leverage this environment to acquire high-quality properties at what it views as attractive entry points.

“Supply is rationalizing in many markets with fundamentals stabilizing, but there continues to be pressure on many overleveraged owners, which should continue to drive attractive acquisition opportunities in the sector,” Greeno stated in the announcement. This pressure creates a window for well-capitalized players to purchase assets at significant discounts to their replacement cost and below the basis of previous owners who bought at the market’s peak.

Market dynamics vary significantly across the region. While coastal markets like Orange County and San Diego have seen vacancies tighten due to persistent demand and supply constraints, other metros such as Phoenix have experienced rising vacancy after a historic construction boom. Amonte Living’s success will depend on its ability to navigate these micro-markets and identify assets with resilient long-term value.

Forging a Strategic Alliance

The Amonte Living platform represents the fusion of two complementary entities: Arselle’s modern investment acumen and Amoroso’s seasoned operational legacy. Arselle Investments was formed in early 2025 by Greeno and fellow Founder and Managing Partner Kevork Zoryan, who bring leadership experience from institutional giants Morgan Stanley Real Estate Investing and Dune Real Estate Partners. Their background provides deep expertise in capital markets, complex investment structuring, and sophisticated asset management.

This is paired with the 47-year track record of Amoroso Companies, a third-generation, family-owned firm founded in 1978. Having developed, operated, or invested in nearly 8,000 multifamily units and a diversified portfolio of approximately $550 million in assets, Amoroso brings invaluable on-the-ground operational knowledge. This deep-rooted experience is critical for executing repositioning strategies and managing properties effectively through market cycles.

Jason Amoroso, Chief Operating Officer of Amoroso Companies, highlighted the synergy. “The opportunity to partner with Arselle will allow us to accelerate this growth, leveraging our operational expertise and their deep relationships and capital markets experience,” he commented. “Not only do we have complementary skill sets, but as importantly, we share similar values and investment approach. We have always invested significant capital from our own balance sheet into deals and have a strong focus on risk management.”

Betting on Suburban and Infill Growth

Amonte Living’s strategy is sharply focused, targeting high-quality assets in suburban and infill locations within major Western U.S. markets. This approach is underpinned by powerful demographic and economic trends. The platform will seek markets benefiting from strong job growth and significant barriers to new construction, which helps insulate investments from oversupply risk.

The venture’s initial acquisitions offer a glimpse into this strategy. The three properties purchased in 2025—the 51-unit Alur in Pasadena for $22 million, the 119-unit Sofi Topanga in Chatsworth for $44 million, and the 48-unit Terraces at La Cienega in West Hollywood for $23 million—are all located in established, supply-constrained submarkets of Los Angeles.

Demand for rental housing in these areas is supported by powerful tailwinds. Persistently high mortgage rates, which have made mortgage payments roughly 35% higher than average rents nationally, continue to make homeownership unattainable for many. This keeps would-be buyers in the rental market longer. Furthermore, large cohorts of Gen Z and millennials are entering their prime renting years, while a growing number of baby boomers are downsizing, adding to sustained rental demand.

At the same time, the pipeline for new apartment supply is contracting sharply. Construction starts have fallen to decade lows amid tight lending conditions and high costs, with annual deliveries forecast to decline by over 40% from their 2024 peak. This emerging scarcity of new units is expected to support occupancy and rent growth in well-located, high-quality properties like those Amonte Living intends to acquire.

“Leveraging decades of expertise and relationships across our target markets, we see a lot of opportunities to acquire very good assets at attractive entry points that reflect significant discounts to replacement costs and the basis of prior owners in locations we really believe in,” added Arselle’s Kevork Zoryan. This focus on acquiring assets below the cost of new construction provides a built-in value proposition and a buffer against market volatility, positioning the new platform to pursue its ambitious growth targets in a complex but opportunity-rich environment.