Positive Investments Trades Inland Empire Community

The buyer paid more than $14 million for the 120-unit property and plans to invest in capital improvements.
Golden Sands

Hanes Properties LLC has acquired Golden Sands, a 120-unit community in Victorville, Calif., for $14.3 million. CBRE represented the seller, Positive Investments, in the transaction.

Built in 1988, the 15-building property consists of 24 one-bedroom and 96 two-bedroom units. Common-area amenities include two swimming pools, two spas and a playground. The buyer plans to renovate the asset, adding a 50-person gazebo, two large pavilions and a sports court. According to Yardi Matrix, the community was 95.8 percent occupied as of December.

Located on 8 acres at 15930 Nisquali Road, the property is 1 mile east of Interstate 15. Macerich’s 577,000-square-foot The Mall of Victor Valley is less than 3 miles southwest of the community, with other shopping options within 2 miles along the Bear Valley Road retail corridor.

CBRE’s team included Stew Weston, Dean Zander and John Montakab. In November, Weston and Zander represented Vaughn Bay Construction in its $63 million disposition of a fully affordable community northwest of Los Angeles.