CBRE Announces Sale of 75-Unit Apartment Community in Inland Empire to Overseas Private Investor for $28 Million
2021 년 12 월 10 일
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.