MORENO VALLEY, CA—Alliance Residential, a Phoenix-based multifamily owner, operator and developer, has closed on the sale of the 304-unit Lasselle Place. The buyer was a Los Angeles-based institutional investor, and the property sold for $45M.
The listing Berkadia brokerage team of Dean Zander, Vince Norris, Margie Molloy and Spencer Scott represented the seller.
“This deal is proof of compelling strong demand in the value-add space for suburban California garden-style communities built during the last cycle” said Zander.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
