Chicago-based Waterton has acquired Terracina, a 736-unit multifamily community in Ontario, CA, from Bridge Investment Group.
The 41.3-acre property has 46 two-story buildings that include one- and two-bedroom garden apartments, each averaging 874 SF. Waterton is planning to renovate the apartments and rebrand Terracina as Citrine Hills.
The Inland Empire multifamily is situated in the Ontario Ranch master-planned community, which when completely developed is expected to have 16M SF of commercial space, eight schools, a park and 1,000 acres of new public open space.
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