Waterstone at Murrieta MF Asset Sells

MURRIETTA, CA—Strata Equity Group has acquired Waterstone at Murrieta, an institutional grade garden-style community here from a joint venture between Silverado Canyon Partners and The Wolff Company. Thomas Moran of Moran & Company’s California office represented the seller in the transaction. The sale closed September 4.

“As an investor across multiple property types, we have a very clear strategy to identify assets in growing markets such as the Inland Empire. Waterstone at Murrieta provides us with the opportunity to continue and complete an already well-executed value-add strategy and reposition Waterstone to compete with newer multifamily product” says David Michan, president at Strata. “We’ve achieved success in this market firsthand with the performance of our existing portfolio of multifamily and single-family rental communities. We plan to replicate that success with Waterstone at Murrieta.”