June 14, 2018 Comments Off on CBRE Brokers Pair of MF Deals in Riverside, Adelanto Views: 4073 California News, Inland Empire

CBRE Brokers Pair of MF Deals in Riverside, Adelanto

CBRE completed two multifamily transactions in the Inland Empire communities of Riverside and Adelanto. The deals total $4.3 million, and involve a 21-unit apartment property and a 36-unit apartment complex.

A local multifamily investor paid $2.85 million for a property located at 4543-4581 Main St. and 4566 Orange St. Riverside. CBRE’s Cray Carlson and Nick Mercurio represented the buyer and seller. The portfolio includes a seven-unit and an eight-unit apartment property, a single-family home and a site with three duplexes.

Pro Residential Services, Inc., a local apartment management agency, paid $1.475 million for a 23,400-square foot property located at 18633 Larkspur Rd. and 11200 Vintage Rd. in Adelanto (pictured). CBRE’s Carlson represented the buyer, as well as the seller, who will be doing a 1031 exchange.

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