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California  + Inland Empire  + Apartments  | 

203-Unit Inland Empire Apartment Duo Fetches $41M

Two Inland Empire garden apartment complexes totaling 203 units have sold for $41.1 million to a Fullerton-based private investor. CBRE’s Eric Chen, Blake Torgerson and Kevin Sin represented the seller, a private owner; Chen also represented the undisclosed buyer.

Built in 1971, the Springbrook Park Apartments in Riverside contains 120 market-rate affordable units in 15 two-story buildings, three miles from the Riverside-Downtown commuter rail station. The complex is about 94% leased. The allocated price for this property was $27.3 million, or $227,500 per unit.

In San Bernardino, Mayfield Park traded for $13.8 million, or approximately $164,286 per unit. It consists of 83 units in 11 two-story buildings and is approximately 95% leased.

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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).

  • ◦Sale/Acquisition
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