CP Capital Divests New-Construction Apartments in Pomona

Real estate manager CP Capital on Thursday announced the sale of The Gabriel, a four-story, 312-unit apartment community in Pomona. The buyer and sale price were not disclosed. Completed in 2022, the property at 2771 N. Garey Ave. sold at 94% leased.

“The multifamily sector has faced challenges in recent years, but we remain optimistic due to its resilience amidst economic uncertainty and the heightened levels of renter demand that should persist long after the current wave of new supply is fully absorbed,” said Kristi Nootens, co-head at CP Capital. “The sale of The Gabriel, along with significant milestones across our portfolio, reinforces our belief that the sector is entering a new era of growth. As market conditions evolve, we look forward to continuing to partner with best-in-class developers and key industry stakeholders to deliver optimal returns for our investors.”

A spokesperson for CP Capital told Connect CRE the company was represented by Rachel Parsons and Derrek Ostrzyzek, who were with Berkadia for most of the sale process but are now at CBRE. Located in eastern Los Angeles County, The Gabriel is a transit-oriented, resort-style community adjacent to the Pomona (North) Metrolink Station, with access to Routes 66 and 67.