IE Business Daily Business news for the Inland Empire.
A Denver-based real estate investment firm has bought a 158-unit multifamily property in Riverside.
Sagard Real Estate purchased Vista Imperio, a garden-style property that covers eight acres at 5880 Lochmoor Drive, according to a statement.
The project is in Sycamore Canyon, about one-quarter mile from UC Riverside.
Cost of the transaction was not disclosed.
Built in 2004, Vista Imperio has more than 136,000 square feet of rentable space. It has one and two-bedroom units with private patios, laundry facilities, stainless steel appliances, and private garages.
Amenities include a pool with a sundeck, cabanas, a fitness center, and a clubhouse.
“We’re pleased to begin building a portfolio of quality attainable apartment investments like Vista Imperio in markets we believe will outperform in the coming years, at what we predict to be bottom market pricing this cycle,” shared John Maurer, senior portfolio manager for Sagard Real Estate, in the statement.
