Senior apartment complex sells
A 71-unit senior complex in Ontario has been sold.
Bernardine Senior Independent Living sold to a private investment group in Los Angeles whose name was not released for $6.7 million, or approximately $95,400 per unit, according to a statement.
The seller was identified only as an Inland Empire acquisition group. The transaction was arranged by The Mogharebi Group, a multi-family real estate services and investment firm in Costa Mesa.
The four-story building was built in 1984 and covers about one acre. It has one-bedroom units, a recreation room, commercial kitchen, laundry, outdoor picnic area with a barbecue and controlled access. The project attracted multiple offers, according to the statement.