California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Greystar Acquires Inland Empire Senior Housing Complex
CBRE has brokered the sale of The Village on 5th, a 264-unit, 55+ multifamily community in Rancho Cucamonga, CA. The buyer was Greystar Real Estate Company and the seller was Acacia Capital Corporation. Terms of the deal were not disclosed.
“Village on 5th is a true best-in-class asset and poised to be a market leader for years to come,” said CBRE’s Dean Zander who brokered the transaction along with Stewart Weston. The CBRE Debt & Structured Finance team led by Trevor Breaux and Troy Tegeler assisted the buyer with placing new fixed rate financing.
According to the CBRE news release, senior housing in the Inland Empire has experienced healthy demand partly because less than 1,700 senior apartments have been added over the last 10 years. Combined with a competitive rent-to-income ratio, the IE is positioned to continue its strong market fundamentals.
Photo Courtesy of Acacia Capital
- ◦Sale/Acquisition
