In the largest multifamily transaction in Southern California to close this year, real estate investment firm Archway Equities has acquired The Paseos at Montclair North, a 385-unit multifamily community in the Inland Empire community of Montclair for $150 million.
For Archway, which has more than $1B in commercial real estate assets under management, including 5,000 apartment units across the Sunbelt, The Paseos represents the firm's first multifamily investment in California.
JLL marketed the property for the seller, 4914 Olive Street Properties. Archway assumed the accretive in place Agency loan with five years remaining on the term.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
