IE Business Daily Business news for the Inland Empire.
A 385-unit multifamily property in Montclair has been sold for $150 million.
Archway Equities’ purchase of The Paseos at Montclair North is reportedly the largest multifamily transaction in Southern California this year, according to a statement.
4914 Olive Street Properties LLC was the seller. JLL represented the investment group in the negotiations.
Located at 4914 Olive St., the development covers two blocks and includes a concert amphitheater, two swimming pools and a fitness facility.
The property was developed in 2014.
Beverly Hills-based Archway Equities has more than $1 billion in commercial real estate assets in its portfolio including 5,000 apartment units. The Paseos is its first multifamily purchase in California, according the statement.
