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CT Realty Sells IE Apartments for $30.35 Mil

NEWPORT BEACH, CA-The locally based investment and development firm has sold the 280-unit complex to a pension fund client, as the Inland Empire's multifamily market continues to heat up.

By Erin Cassin | Updated on July 12, 2001

NEWPORT BEACH, CA-A locally based investment and development firm has sold a 280-unit multifamily property in Chino Hills for $30.35 million, as the Inland Empire’s apartment market continues to heat up.

The seller, CT Realty, had recently completed a $2 million redevelopment of the community. Improvements included repairing the exteriors of the buildings, renovating the interiors of the units and adding washer/dryer hook-ups to all units.

Located at 15773 High Knoll Dr., the complex encompasses 13.5 acres. It consists of 26 two-story buildings and is currently 95% occupied. On-site amenities include two pools, two spas, a fitness center, basketball court, playground, community meeting room and daycare facility.

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