New York Investor Buys IE Apartments

An unnamed New York-based investment firm has acquired a 304-unit apartment property in Moreno Valley from Irvine-based 4G Ventures for an undisclosed price. The Inland Empire is experiencing strong population and job growth, and this sale is a sign that the market has landed on the radar of investors across the country.

Located at 5700 Lasselle St, the property is near a Kaiser Medical Center and Riverside University Hospital. It features a pool and jacuzzi, built-in fire pits and barbeques, guard gates and a fitness center.

CBRE’s Dean Zander, Stew Weston and John Montakab represented the seller in the deal. CBRE’s Brian Eisendrath, Annie Rice and team facilitated the loan on behalf of the buyer.