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California  + Inland Empire  + Apartments  | 

County of San Bernardino Acquires Workforce Housing

CBRE arranged the sale of Golden Sands Apartments, a 120‑unit multifamily community at 15930 Nisqualli Rd. in Victorville, to Aspen Real Estate Financial LLC (AREF) in partnership with the Housing Authority of the County of San Bernardino (HACSB) and the California Affordable Housing Agency (CalAHA). The sale price was $21 million.

CBRE’s Cray Carlson represented the seller, Hanes Golden Sands Apartments LP. The buyer was advised by Matt Benwitt of Lee & Associates. The acquisition reflects a continued effort by AREF and HACSB to expand attainable housing options for families across the region.

This transaction marks the second acquisition with this structure that CBRE and Carlson have completed with AREF and HACSB in the past eight months. In June 2025, AREF partnered with HACSB and CalAHA to acquire Echo Apartment Homes, a 38‑unit property in San Bernardino, for $12.3 million.

“Golden Sands Apartments represents an important acquisition for the Victorville community, delivering much‑needed workforce housing in a rapidly growing region,” said Carlson.

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CBRE's Carlson

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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