IE Business Daily Business news for the Inland Empire.
A 12-unit apartment complex in Riverside has been sold. Palm Courtyard Apartments at 4333 Brockton Ave. sold for $1.75 million to a private entity whose name was not released, CBRE announced. The seller was a local investor who also wished to remain anonymous. CBRE represented both parties in the transaction. …
Read More »Large portfolio sale includes three IE properties
Stockbridge Capital Group, a San Francisco-based private equity real estate investment company, has bought a 26-property industrial and e-commerce portfolio that includes three Inland Empire properties. The seller was Westcore Properties, a commercial real estate investment firm in La Jolla, according to a statement. Cost of the transaction was not …
Read More »Riverside industrial building sells for $123 million
A Washington D.C.-based company has purchased a one-million-square-foot warehouse-distribution center in Riverside. ASB Real Estate Investments paid $123.7 for the property at 490 Columbia Ave., a fully occupied project which is part of the Columbia Business Park, according to a statement released Tuesday. Washington Capital Management Inc, an employee-owned investment …
Read More »Foreclosure rates stay low
Three point six percent of all mortgages nationwide were in some state of delinquency during May, down from 4.2 percent in May 2018, according to data released Tuesday. That marked the second consecutive month that the national delinquency rate – 30 days more past due, including properties in foreclosure – …
Read More »Major residential development opens first neighborhood of second phase
Foremost Cos. In Irvine, a land investment firm that buys and sells high-end properties to residential and commercial developers, held a grand opening Saturday for a project it helped develop in Temescal Valley. Fieldcress is the first neighborhood in the second phase of Terramor, a master-planned community which will have …
Read More »Riverside multi-family project fetches $60 million
A multi-family project next to the Riverside-La Sierra Metrolink station has been sold for $60 million. San Diego-based Davlyn Investments, which specializes in multi-family and commercial properties, closed escrow on the Class A-development in southwest Riverside late last month, according to a statement. It was the company’s 11th transaction in …
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