Inland Empire
FPA Grabs Age-Restricted Inland Empire Community
Positive Investments, which picked up the 177-unit Class C property in 2016 for $11.9 million, traded the asset for more than $14 million.
SoCal Affordable Community Changes Hands
The 60-unit fully affordable property fetched a price tag of $3 million, with the buyer landing $2.7 million in acquisition financing.
Top 10 Inland Empire Multifamily Transactions
The Inland Empire market continues to grow its multifamily inventory at a slow burn, further inflating rent rates and property values. One result is rising per-unit prices, which are about $9,000 higher than the national average.
C.W. Driver Completes $78M Student Housing Project
The assets include a 407-bed community and a 750-seat dining facility and will serve students attending California State University, San Bernardino.
Riverside Community Gets New Management
UBS Realty Investors, the owner of the 2005-built, 256-unit Inland Empire asset, selected Alliance Residential Co. to oversee property operations.
SoCal Apartments Trade for Nearly $50M
The seller, StarPoint Properties, acquired the 232-unit Class B community in the Inland Empire for approximately $15 million in late 2001.
CBRE Brokers the Sale of 2 CA Properties
The properties, located in the Inland Empire and Orange County, sold for a total of $10.8 million.
SoCal Community Changes Hands
Prism Multifamily funded the acquisition of the 121-unit Class A Latitude 33 in Palm Springs with a $10.8 million loan originated by Walker & Dunlop.
Demand, Deliveries Maintain Rent Growth in the Inland Empire
Bolstered by population gains, multifamily demand continues to be strong for both Lifestyle and Renter-by-Necessity assets across the metro, where rents are expected to rise by 4.4 percent in 2018.