June 25, 2018 Comments Off on Berkadia Completes $45M MF Sale in San Bernardino Views: 4183 California News, Inland Empire

Berkadia Completes $45M MF Sale in San Bernardino

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Broadstone Serrano, a 254-unit garden-style multifamily property in San Bernardino, CA, has sold for $44.5 million. The buyer was California-based Crystal Asset Management, Inc. The seller was Strata Serrano LLC, an affiliate of San Diego-based Strata Equity Group.

Located at 1930 W. College Ave., near California State Univ. San Bernardino, the property offers one and two-bedroom floorplans. Amenities include dishwashers, microwaves, ceiling fans, fireplaces, washers and dryers and car ports. Community features include a swimming pool and spa, laundry facility, fitness center, business center, tennis courts, barbeque grills and a TV lounge.

Berkadia’s Kyle Pinkalla and Shane Shafer completed the sale on behalf of the buyer.

Pinkalla says, “Broadstone Serrano presented the perfect opportunity for the buyer to undertake a full renovation strategy, and to position the property to compete as a higher-end rental option in North San Bernardino.”

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