Three SoCal Multifamily Properties Trade

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.