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CBRE Arranges $34M Sale of San Gabriel Valley MultiFam Trio

CBRE Arranges $34M Sale of San Gabriel Valley MultiFam Trio

CBRE has arranged the sale of the Azusa Portfolio, a three-property, 116-unit multifamily portfolio in Azusa, CA. The firm represented the seller, Azusa Riviera Holdings, LLC, Azusa Rainbow Holdings, LLC, and 1345 San Gabriel Holdings, LLC, in the $34 million transaction, and also represented the buyer, Azusa 116 assets, LLC.

“The multifamily fundamentals in San Gabriel Valley are very strong, and these properties will continue to perform well,” said CBRE’s Eric Chen who facilitated the sale along with Joyce Goldstein.

The properties included in the sale are:

     – The Rivera Apartments, 36-units, 1381 N. San Gabriel Canyon Rd.

     – Palm View Apartments, 36-units, 1311 N. Azusa Ave.

     – The Azusan Apartments, 44-units, 1345 N. San Gabriel Ave.

All three communities are located in a fast-growing area close to Azusa Pacific University and comprise a mix of one- and two-bedroom units averaging 800 square feet.

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Inside The Story

CBRE's Eric Chen

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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