IE Business Daily Business news for the Inland Empire.
A 197-unit multifamily complex in San Bernardino has been sold.
The Vue Apartment Homes at 1660 W. Kendall Drive sold for $37.4 million, according to a statement released by CBRE.
The seller was FPA Multifamily, a real estate investment firm in Irvine. Dalan Management, a New York real estate investment firm, was the buyer.
CBRE represented FPA Multifamily in the negotiations.
Built in 1988, The Vue Apartment Homes is within one mile of Interstate 215 and walking distance Cal State San Bernardino, which is surrounded by retail and entertainment.
An estimated 104 million square feet of industrial and space is within a 10-mile radius of the property, and another 10 million square feet is under construction, according to the statement.
