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Moreno Valley MF Sold for $28M
TruAmerica sold Mediterranean at Townsgate, a 227-unit multifamily property in Moreno Valley, CA. The apartment complex was acquired by New Standard Equities for $27.9 million.
Located at 13400 Elsworth St. near the Moreno Valley Mall, the property offers the opportunity to continue an interior renovation program to realize future rent increases. The property’s extensive amenity package includes two large swimming pools and spa, playground, sports court, outdoor barbecue areas, a resident lounge and a leasing office.
CBRE’s Stew Weston and John Montakab represented the seller. The buyer was self-represented. CBRE’s Brian Eisendrath and Annie Rice secured financing for the buyer.
Weston says “This area has seen a lot of growth, and demand for housing is very strong, which makes this a great investment.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




