Avison Young completed the off-market, $68-million sale of Arte, a 182-unit, luxury apartment community located at 10130 Foothill Blvd. in Rancho Cucamonga. The buyer was an affiliate of Encinitas, CA-based Providence Capital Group, Inc., while the seller was Santa Barbara, CA-based Fore Property.
Built in 2019 and situated on 4.41 acres near Victoria Gardens, the property consists of six, four-story buildings. The units offer 10 floorplans that include one, two, and three-bedroom units. On-site community amenities include an outdoor kitchen and BBQ fireplace, bar area, TV entertainment wall, fire tables, pool and spa, state-of-the-art two-story fitness center with spin/yoga room, dog park, and game room.
Avison Young’s Peter Hauser, Matt Hauser and Masa Ito represented the seller. The property closed at a price per unit of $373,626.
Hauser says, “Arte is a new high-quality multifamily asset located in one of the top rental markets of the Inland Empire.”
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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