IE Business Daily Business news for the Inland Empire.
Two Inland Empire multifamily properties have been sold.
Springbrook Park Apartments, a 120-unit complex at 1100 North Orange St. in Riverside, and Mayfield Park Apartments, an 83-unit complex at 345 West 41st St. in San Bernardino, sold recently for a combined $41.1 million, according to CBRE.
CBRE represented the buyer and seller in the transaction. Neither party was identified.
“In this uncertain environment, these transactions underscore the importance of great fundamentals for multifamily in Inland Empire, and the buyer’s confidence in acquiring properties in good locations,” said Eric Chen, CBRE executive vice president, in the statement.
Springbrook Park sits on 6.7 acres and has one, two and three-bedroom units. It includes a fitness center, playground and basketball court, according to the statement.
Mayfield Park consists of 11 two-story buildings on 3.7 acres. It features one and two-bedroom units with fully equipped kitchens, according to the statement.
