Tower 16 Capital Partners, represented by Mike Farley, has acquired a multifamily asset in Colton, located at 1333 Reche Canyon Road and 2270 Cahuilla Street. The property consists of 214 units and was sold by Logan Capital Advisors, represented by Ruben Islas. The transaction, facilitated by Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander of CBRE, concluded on May 18, 2021. The sale price for this transaction was $41,000,000, resulting in an average price per unit of $191,588.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $41,000,000
• Units: 214
• Buyer: Tower 16 Capital Partners - Mike Farley
• Seller: Logan Capital Advisors - Ruben Islas
• Brokers: Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander - CBRE

This notable transaction involved several key individuals and companies. Tower 16 Capital Partners, led by Mike Farley, successfully acquired the multifamily asset in Colton from Logan Capital Advisors, represented by Ruben Islas. The deal was executed with the assistance of CBRE brokers Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander. The transaction highlights the ongoing activity and investment in the Colton market.