ONTARIO, CA—Berkadia has executed the sale of three multifamily properties located in Southern California's Inland Empire. Managing director Alex Mogharebi of the Ontario office completed the sales, which totaled $85 million. Highlights include:

Mogharebi negotiated $49.1 million for the sale of The Villages at Bonita Glen, located at 240, 250, 254 and 260 Bonita Glen Drive and 72 Sandalwood Drive in Chula Vista, California. The sale price reflects a per-unit price of $166,271. The buyer was RRE Bonita Glen Holdings, LLC of Philadelphia, and the seller, who had owned the property since 1997, was Granite Investment Group of Irvine, CA. Over a dozen offers were received for the property.

Built in two phases in 1970 and 1988, the 295-unit property consists of studio, one-, and two-bedroom layouts. More than 35 unique unit layouts are available. Unit amenities include fully equipped kitchens, double-basin stainless steel sinks, fireplaces, skylights, and a patio or balcony. Community amenities include a swimming pool, spa, fitness center, club house, recreation room, and picnic and barbeque areas. The property is fully occupied.

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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.

Inland Empire