Real Estate

Multifamily rents in the United States rose 2.7 percent in February. Nationwide, the average multifamily rent last month was $1,364, according to a recent report by Santa Barbara-based Yardi Matrix. The report, based on data taken from 121 markets, called the increase “not surprising … since it is very close …

Los Angeles-based KB Home held a grand opening last Saturday for Camberly Place, its latest community in French Valley. Located near Interstates 15 and 215 and Highway 79, Camberly Place has one and two-story houses that range from 2,000 to 3,200 square feet and have up to six bedrooms, according …

A pair of real estate entities is planning to build a 211-unit apartment complex in Montclair. Alexan Montclair will be developed about one mile south of the city’s Metrolink station, which is at 5091 Richton St., according to a statement. The project will be developed by New York-based HQ Capital …

Two apartment complexes in Riverside have been sold. The properties – a total of four buildings – sold to local private investors for a combined $10.3 million, CBRE announced Tuesday. The La Paz/Las Palmas apartments are at 2032 and 2052 Linden St. The second property, Cazador’s Court, is at 3461-3471 …

Only 29 percent of all California households could afford a median priced home – $550,990 – during the fourth quarter of last year, a year-over-year drop of three percent, according to data recently released. An annual income of $111,260 was required to make that purchase, assuming monthly payments of $2,780 …

A Riverside office building has been sold. The five-story structure at 1650 Spruce St., which covers 58,300 square feet, sold for $7.2 million, according to CBRE. Magnon Cos., a Riverside developer, was the seller.  Providence Capital Group Inc., a real estate investment and management firm in Encinitas, bought the building. …