Hanes Properties Acquires Victorville Multifamily for $14M

Los Angeles-based Hanes Properties, LLC, has acquired the 120-unit Golden Sands apartment complex located at 15930 Nisquali Rd. in Victorville, CA, for $14.25 million. The transaction set the high mark for an apartment property sale in the San Bernardino County high desert city, according to the announcement.

A CBRE team of John Montakab, Stew Weston, and Dean Zander of CBRE represented the seller, L.A.-based real estate and property management firm Positive Investments, working in tandem with Hanes Investment Realty president Braemon Hanes.

CBRE also reported Hanes plans to completely renovate the asset in 2020, including major enhancements to five large courtyards to include a 50-person gazebo, two large pavilions, cabanas at two pool/spa locations, a playground and tot lot, and a 77 fruit tree orchard-maze and sport court.

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