![]() ![]() In November, the Los Angeles-based company, in partnership with Cityview, acquired the 276-unit Empire Landing apartment complex in Burbank for $161 million, or $583,333 per unit. ![]() The sale of the property adds to a number of recent deals in Southern California by Clarion Partners over the past several months. At that time, Legacy Partners purchased the asset for $46.25 million, or about $221,291 per unit. The apartment building is within close proximity to several other multifamily assets, including Rowland Palms Apartments, Casa de Lago Apartments and more.Īccording to public records, the recent sale of the apartment community was nearly double what it last traded for in 2007. The Verandas are located in a primarily residential neighborhood, just north of the San Bernardino Freeway. On top of these, our onsite staff works tirelessly to ensure everything runs smoothly, which is why they offer maintenance, package receiving, and scenic garden landscaping,” the website states. To give you an idea, you can stay cool on hot summer days at the pool deck, stay in top shape regardless of the season at the well-equipped fitness center, and see the furry residents bond at the dog park designed for their entertainment. “There’s more to enjoy beyond the four walls of our Inland Empire apartments. The property also offers a number of onsite community amenities, including access to a dog park, various lounge areas, a pool and more. The property’s website shows that the building maintains a mix of one-, two- and three-bedroom apartment options, with rent ranging from $2,416 to $3,002 per month. The apartment community, located at 200 N. Multifamily real estate investment company Legacy Partners was the seller in the transaction. Property records indicate that the global real estate investment company purchased a 209-unit apartment community in West Covina for $92 million, or about $440,191 per unit. Clarion Partners is making moves to grow its multifamily portfolio in Southern California.
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