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Golden Management Acquires Tesoro Apartment Homes From Li Yu Of Preferred Bank For $41.5M

Property Image
SOLD
$41,500,000

California

See Similar Deals
MultiFamily
Sold 01/22/2026
the dealdetailscomps
Property Image
SOLD

Golden Management Acquires Tesoro Apartment Homes From Li Yu Of Preferred Bank For $41.5M

106 West Pennsylvania Avenue

See Similar Deals
MultiFamily
Sold 01/22/2026
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily asset involved in the transaction is the Tesoro Apartment Homes, located at 106 West Pennsylvania Avenue in Redlands. The property consists of 188 units, which were sold for a total price of $41,500,000, equating to $220,745 per unit. This sale is noted as one of the largest multifamily transactions in the Inland Empire for Q4 2025.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $41,500,000
  • Units: 188
  • Price Per Unit: $220,745
  • Buyer: Golden Management
  • Seller: Li Yu - Preferred Bank
  • Market: Redlands

Golden Management acquired the property from Li Yu, who represented Preferred Bank in the deal. The transaction reflects a trend in the market towards stabilized assets, occurring amid rising vacancy rates and expanding cap rates in the region.

Players

Preferred Bank
Preferred Bank
SELLER

Details

SOLD
IMAGE: Li Yu DATE: 01/22/2026 ADDRESS: 106 West Pennsylvania Avenue MARKET: Redlands ASSET TYPE: Multifamily BUYER: Golden Management SELLER: Li Yu - Preferred Bank SALE PRICE: $41,500,000 UNITS: 188 ~ PPU: $220,745 NOTE: Golden Management bought the 188-unit Tesoro Apartment Homes in North Redlands for $41.5 million, or $220,745 per unit, one of the Inland Empire’s largest Q4 2025 multifamily deals and slightly above the submarket average. The quarter showed rising vacancy to 6.3%, cap rates expanding to 5.9%, and reduced construction activity, signaling a market recalibration with investors favoring stabilized assets.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$147,440.74
Cash-on-Cash Return-1.27%
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