Donald Kuemmeler And Michael Johnson Acquire 184-Unit Multifamily Community In Riverside For $65.3M

The Hawthorne is a 184-unit multifamily community located at 9170 Indiana Avenue in Riverside, CA. The property was built in 2023 and features Class A garden-style units, including townhome-style units and resort amenities. The asset was acquired for $65,300,000, resulting in a price per unit of $354,891.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $65,300,000
• Units: 184
• Price Per Unit: $354,891
• Buyer: Donald Kuemmeler & Michael Johnson - PCCP; V. Jay Hiemenz - Alliance Residential Company
• Market: Riverside, CA
• Seller: Undisclosed

PCCP and Alliance Residential Company were involved in the acquisition, citing strong fundamentals and long-term demand in the Southern California submarket as key factors in their decision to purchase the property.