Real Estate

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 …

Housing affordability in California improved slightly during the first quarter of this year, according to data released May 9. Seventeen percent of the state’s households could afford a median-price home – $814,280 – during the first three months of 2024, a 15 percent increase compared with the last quarter of …

The average price of a single-family home rose 5.3 percent nationwide in March, the 46th consecutive month of year-over-year growth, according to data released this week. Prices are expected to rise between 3.7 percent and 5.6 percent during the next 12 months, Irvine-based CoreLogic reported in its Home Price Index …

A 162,000-square-foot shopping center in Rancho Mirage has been sold. Rancho Las Palmas, which sits on 15 acres at at 42240-42540 Bob Hope Drive, was sold recently for an undisclosed sum, according to a statement. DRA Advisors, a New York-based real estate investment company, and Paragon Commercial Group, a retail …

A 340,000-square-foot industrial facility in San Bernardino has been sold. Dallas-based Dalfen Industrial bought the project at 4982 Hallmark Parkway from Bixby Land Co. in Newport Beach, according to a statement. Cost of the transaction was not disclosed. JLL represented both parties in the negotiations. The warehouse-distribution facility is fully …

Progressive Real Estate Partners in Rancho Cucamonga has negotiated the sale of a Los Angeles strip mall. The 7-11-anchored facility at 728 W. Vernon Ave. sold for $3.5 million in an all-cash transaction, according to Progressive. The buyer and seller were both private investors in Los Angeles County whose names …