Aspen Real Estate Financial LLC Acquires Echo Apartment Homes In San Bernardino For $12.3M

The property involved in this transaction is a multifamily asset located at 505 East Rialto Avenue in San Bernardino, California. The sale was completed for $12,300,000, comprising 38 units with a price per unit of $323,684.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,300,000
• Units: 38
• Price Per Unit: $323,684
• Buyer: Aspen Real Estate Financial LLC, Housing Authority of the County of San Bernardino, CalAHA
• Buyer's Representative: Matt Benwitt - Lee & Associates
• Seller's Representative: Cray Carlson - CBRE

This transaction was facilitated by Lee & Associates, focusing on the acquisition of Echo Apartment Homes. The partnership involved Aspen Real Estate Financial, along with the Housing Authority of San Bernardino and CalAHA, who will manage a 40-year lease-to-own structure for the property, enabling immediate housing opportunities.