IE Business Daily Business news for the Inland Empire.
A 156-unit multifamily complex in Ontario has been sold for $50.5 million.
The Landing Apartments was sold by the Orange County family that has owned the property for 20 years, according to a statement.
The Mogharebi Group, an investment real estate firm based In Costa Mesa, represented the seller. Information about the buyer was not released.
The Landing is at 3364 Honeybrook Way, west of Interstate-15 and just south of the 60 Freeway. It has one- and two-bedroom units that range from 700 to 1,100 square feet, as well as a laundry, pool and spa, tennis court, carport parking, and a community lake.
Mogharebi operates in seven western states. It has completed more than $8 billion in sales since its founding in 2015, according to the company’s website.
