Press Release

CBRE Announces Sale of 75-Unit Apartment Community in Inland Empire to Overseas Private Investor for $28 Million

2021 12월 10

CBRE announced the sale of Hallmark at Mission, a 75-unit multifamily community in Ontario, Calif., to a private foreign investor for $28 million.

Eric Chen of CBRE represented the seller, a private investor.

Located at 840 S. Magnolia Avenue, the four-story property was originally constructed in 2019. The unit mix is comprised of one- and two-bedroom apartments. Community amenities include a swimming pool and spa, clubhouse, fitness center and private attached garages. The property is less than three miles from I-10, connecting the area to other parts of Southern California.

“Hallmark at Mission is a quality asset located in one of Southern California’s fastest-growing submarkets,” said Chen. “This property has performed very well throughout the pandemic and is poised for future rent growth.”

He added, “This was an all-cash transaction from an overseas buyer looking to place capital as long-term and generational investment.” 

CBRE’s Chen also represented the buyer.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.