Raincross Promenade Acquires Multifamily Property In Riverside For $60M

3250 Market St, a multifamily property located in Riverside, was recently sold in a closed transaction. Kyle Pinkalla, representing Northmarq, facilitated the deal between the buyer, Raincross Promenade, and the seller, Regional Properties LP. The sale took place on 08/10/2022.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $60,000,000
• Units: 141
• Price per unit: $425,531
• Market: Riverside

The sale of 3250 Market St represents a significant transaction in the Riverside market. Situated in a central location, the property offers 141 units, with a sale price of $60,000,000. The buyer, Raincross Promenade, was represented by Kyle Pinkalla from Northmarq, while the seller, Regional Properties LP, was represented by their own team. The transaction demonstrates the continued investment activity in the multifamily sector in Riverside.