PCCP, Alliance Residential Snap Up Garden-Style Riverside Complex

A joint venture between PCCP and Alliance Residential Company completed the $65.3-million acquisition of The Hawthorne, a 184-unit multifamily community located at 9170 Indiana Ave. in Riverside. The seller was not disclosed.

Delivered in 2023, The Hawthorne is a garden-style multifamily community consisting of 16 three- and two-story buildings and one single-story amenity building. The property is characterized by townhome-style architecture and offers a mix of one-, two-, and three-bedroom floorplans averaging approximately 873 square feet. Onsite amenities include a resort-style pool and spa with cabanas, multiple landscaped courtyards with BBQs and fire pits, a clubhouse with entertainment areas, and a fitness center.

“This acquisition represents an opportunity to partner with Alliance to acquire what we believe is a well-located, Class A community at a solid basis in a high-growth Southern California submarket with strong long-term demographic and demand drivers,” said Michael Johnson, managing director with PCCP.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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