Waterford Property Co. has entered the Inland Empire multifamily market. It has acquired a new construction class-A, 75-unit multifamily property for $21.5 million.
Waterford plans to invest close to $1 million to further enhance the residences and amenities at the four-story property known as Hallmark at Mission. The property comprises two residential buildings totaling 60,479-square-feet of space. The apartment homes feature one and two bedroom floor plans.
Waterford already owns three office properties in the market. It is bullish on the demographic trends of the Inland Empire and is hoping to acquire additional multifamily and commercial assets in the market over the next year.
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Kelsi Maree Borland
