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.
Canyon Park

UBS Realty Investors has chosen Alliance Residential Co. to manage Canyon Park, a 256-unit community in Riverside, Calif. The Sares-Regis Group previously managed the asset, according to Yardi Matrix.

The community, built in 2005, last changed hands in late 2011, when UBS acquired the asset for $37.6 million from Kennedy Associates.

Located at 3100 Van Buren Blvd. in the Inland Empire’s East Riverside submarket, the property’s 14 three-story buildings are situated just south of Riverside Freeway, 50 miles from downtown Los Angeles. The property is a short walk from a grocery-anchored retail center, with two nearby Riverside Transit bus routes providing access across the county.

The property contains a mix of one- and two-bedroom apartments, with floorplans ranging from 715 to 1,092 square feet. Community amenities include a swimming pool, a fitness center, a business center and a clubhouse. In August, the asset was 95.7 percent occupied, per Yardi Matrix.

In April, Van Daele Homes signed The REMM Group to handle property management at a 216-unit luxury development 9 miles northeast of Canyon Park.

Image courtesy of Yardi Matrix