Tower 16 Acquires Multifamily Property In Colton, Inland Empire For $41M

The asset involved in this transaction is a multifamily property located at 1333 Reche Ridge in Colton, Inland Empire. The sale was executed for $41,000,000, which translates to a price per unit of $191,588, encompassing a total of 214 units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,000,000
• Units: 214
• Price Per Unit: $191,588
• Buyer: Tower 16
• Seller: Logan Capital
• Brokers: Dean Zander & Stew Weston
• Sale Date: 05/12/2021
• Address: 1333 Reche Ridge
• Market: Colton, Inland Empire

Dean Zander and Stew Weston represented the buyer, Tower 16, in this transaction while facilitating the sale from the seller, Logan Capital. Their involvement played a significant role in bringing the two parties together for the completion of this multifamily property deal.