IE Business Daily Business news for the Inland Empire.
A 492-unit Murrieta apartment complex has been sold for $146 million.
Silverado Apartment Homes was purchased by Bell Partners, a multifamily project manager based in Greensboro, N.C., according to a statement.
The seller was Realty Center Management Inc. in Culver City. Bell Partners plans to rename the property Bell Murrieta Springs.
Completed in 2007, the complex at 25100 Vista Murrieta, is at the junction of Interstate-15 and Interstate-215. It has one-, two- and three-bedroom floor plans with an average unit size of 948 square feet.
Amenities include a green belt with a walking path that surrounds the property, two pools and a clubhouse.
The purchase price is $298,000 per unit. Institutional Property Advisors, a division Marcus & Millichap, represented the seller and located the buyer.
Bell Partners own and/or manages 11 apartment complexes – more than 3,100 units – in Southern California, according to the statement.
