Marcus & Millichap (NYSE: MMI) closed the sale of a three-property multifamily portfolio in the Inland Empire. The properties, Rialto Breeze Apartments, a 98-unit asset in Rialto; Parkview Manor Apartments, a 76-unit property in Corona; and 60-unit Staci Court Apartments in Redlands sold together for $53.4 million.
“The Inland Empire continues to attract renters from higher-priced metros nearby and provide active multifamily investors with some of Southern California’s best income-producing assets,” said Alexander Garcia, Jr., executive director with Marcus & Millichap’s Institutional Property Advisors division.
Garcia and Bill Roblero, VP investments in Marcus & Millichap’s Inland Empire office, represented the buyer, Clear Capital LLC. Rial;to Breeze dates from 1985, while the Corona and Redlands assets were built in 1987.
The post Inland Empire Multifamily Portfolio Goes for $53M appeared first on Connect CRE.
Marcus & Millichap (NYSE: MMI) closed the sale of a three-property multifamily portfolio in the Inland Empire. The properties, Rialto Breeze Apartments, a 98-unit asset in Rialto; Parkview Manor Apartments, a 76-unit property in Corona; and 60-unit Staci Court Apartments in Redlands sold together for $53.4 million. “The Inland Empire continues to attract renters from higher-priced metros nearby and provide active …
The post Inland Empire Multifamily Portfolio Goes for $53M appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate