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Real Estate

Colton apartment complex sells for $88 million

building sold

District at Grand Terrace, a 352-unit multifamily property in Colton has been sold for $88 million. Institutional Property Advisors, a division of Marcus & Millichap, negotiated the transaction, according to a statement. Tower 16 Capital Partners, a commercial real estate brokerage in Encinitas, was the seller.  MG Properties Group in …

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Large industrial building slated for Victorville

Construction will begin soon on an 819,964-square-foot industrial building at the Southern California Logistics Centre in Victorville. The project, which is expected to create about 100 jobs, will be a warehouse-distribution hub for a multinational consumer products company whose name was not released. Groundbreaking is scheduled to held next month. The …

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Two multifamily properties change hands

A 13-unit multifamily portfolio in Bloomington has been sold for $2.7 million. Located in the 17770 block of Marygold Ave. and 9945 Alder Ave., the properties include 3.5 acres of surplus land for development or other uses, according to CBRE. CBRE represented buyer and seller in the negotiations. Information about those …

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U.S. foreclosures up slightly

Mortgage Charts

An estimated 5.6 percent of all U.S. mortgages were in delinquency – at least 30 days past due – in January, according to data released last week. That was a year-over-year increase of 2.1 percent, although month-by-month delinquency rates have been dropping since August, Irvine-based Core Logic reported in its …

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Menifee apartment complex sold

Sold Sign

An apartment complex in Menifee has sold for $6.5 million. The 34-unit community at 28378 Encanto Drive was purchased recently by a private investor whose name was not released. The seller also wished to remain anonymous. CBRE represented both parties. Built in 1992, the complex is on nearly three acres. …

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Teachers pension group buys IE industrial portfolio

building sold

The California State Teachers’ Retirement System has purchased an 11-building industrial portfolio in the Inland Empire for $320 million. Forty five percent of the properties are either leased or their owners have agreed to terms, according to a statement released by Crow Holdings, a Dallas real estate investment and development …

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