June 25, 2018
There’s still time to join us for Connect Apartments on June 26th in Los Angeles. Here’s a link to find out more about the conference and to register.
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.”
For comments, questions or concerns, please contact Dennis Kaiser