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Hallmark at Mission’s Pandemic Performance Points to Future Rent Growth
Hallmark at Mission, a 75-unit multifamily community in Ontario, CA, recently sold to a private foreign investor for $28 million. Located at 840 S. Magnolia Ave., the property is less than three miles from I-10.
The four-story property was originally constructed in 2019. The unit mix is comprised of one- and two-bedroom apartments. Community amenities include a swimming pool and spa, clubhouse, fitness center and private attached garages.
Eric Chen of CBRE represented the buyer and seller, also a private investor. “Hallmark at Mission is a quality asset located in one of Southern California’s fastest-growing submarkets,” said Chen. “This property has performed very well throughout the pandemic and is poised for future rent growth. This was an all-cash transaction from an overseas buyer looking to place capital as long-term and generational investment.”
- ◦Sale/Acquisition
