IE Business Daily Business news for the Inland Empire.
A 264-unit apartment complex in Riverside has been sold.
Viano at Riverwalk was sold by Griffin Living, a real estate development firm in Calabasas, for an undisclosed sum, according to a statement released by CBRE.
The buyer was Greystar Real Estate Partners in Charleston, S.C.
Greystar is an international real estate developer and manager that oversees more than 754,000 multifamily units and student beds worldwide, according to the company’s website.
CBRE represented Griffin Living in the negotiations.
Viano at Riverwalk is at 4655 Sierra Vista Ave. Built in 2015, it’s a high-end property on 13.5 acres within the Riverwalk master-planned community. Its units average 945 square feet.
Multifamily rents in west Riverside, where Viano at Riverwalk is located, are expected to be 10.2 percent higher by the end of this year than they were in 2020, according to CBRE.
