IE Business Daily Business news for the Inland Empire.
Two apartment complexes in Riverside that cater to active seniors have been sold for a combined $6.8 million.
The first building, 23-unit Orangeville Senior Living at 1054 N. Orange St., sold for $4.43 million, according to CBRE.
Madison Villa Arms a collection of two-bedroom units at 3268 Madison St., sold for $2.45 million in an all-cash exchange.
CBRE negotiated both transactions, which were announced Thursday. In both cases, the seller was the original developer of the property. No other information regarding the buyers and sellers was released.
The Inland Empire multifamily market remains strong, with 1,445 units having been absorbed during the first quarter, CBRE reported.
