Klingbeil Capital Management has sold Canyon Crest Views for $53.5 million to a private buyer. The property is a 178-unit multifamily property in Riverside.

Located at 5253 El Cerrito Drive, the property has a mix of two- and three-bedroom townhomes with two-car garages helped, which helped push the pricing north of $300,000 per-unit.

Managing directors Jeff Rowerdink and Joe Leon of Berkadia's Irvine, California office, along with managing director Jim Fisher and senior director Mike Smith of Berkadia's Los Angeles office represented the seller in the deal.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Orange County
Multifamily
Capital Markets