July 15, 2019
New York-based The Praedium Group acquired Lasselle Place in Moreno Valley, CA. The 304-unit multifamily community was sold by an undisclosed party.
The Praedium Group’s Kelsey Durels pointed out the property’s location in the heartland of the Inland Empire delivers such benefits as an expanding logistics industry and growing diversified economy. She says, “Many Fortune 500 companies have sought industrial and office space in Moreno Valley, and with these facilities comes the promise of growth and stability in the area for years to come. Having already owned in the submarket, we believe our local experience and focus on tenant needs will enhance the community.”
Constructed in 2005, Lasselle Place consists of 15 two- and three-story residential buildings with a mix of one, two- and three- bedroom homes. Unit interiors feature granite kitchen countertops, spacious walk-in closets, and in-home washer/dryers. Community amenities include a swimming pool, fitness center, Cyber Café, and playground.
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