Aspen Real Estate Financial LLC And Partners Acquire Golden Sands Apartments In Victorville For $21M

The sale involves Golden Sands Apartments, a 120-unit multifamily community located at 15930 Nisqualli Road in Victorville. The property was transacted for $21,000,000, translating to a price per unit of $175,000. The asset, constructed in 1988, is situated in a market that caters to workforce housing.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $21,000,000
• Units: 120
• Price Per Unit: $175,000
• Buyer: Aspen Real Estate Financial LLC, Housing Authority of the County of San Bernardino, California Affordable Housing Agency
• Seller: Hanes Golden Sands Apartments LP
• Buyer's Representative: Matt Benwitt - Lee & Associates
• Seller's Representative: Cray Carlson - CBRE

This transaction involved multiple buyers, with the Housing Authority of the County of San Bernardino set to operate the property under a 40-year lease, dedicating it to working households. Aspen Real Estate Financial LLC capitalized the deal and committed to donating all equity and future gains to the housing authority.