Korda Group Acquires 228-Unit San Dimas Complex For $78.5M

Stockbridge Capital Group and CNS Focused Investments have sold a complex in San Dimas for $78.5 million. The property, located at 444-445 N Amelia Ave, spans 214,000 square feet and includes 228 units. The sale price equates to $366 per square foot, with each unit costing an average of $272,600. The buyer of the property is Korda Group.

Summary of transaction details

• Property Type: Complex
• Transaction Amount: $78,500,000
• Address: 444-445 N Amelia Ave
• Market: San Dimas
• City: Los Angeles
• Square Feet: 214,000
• Price per Square Foot: $366
• Units: 228
• Price per Unit: $272,600

Terry Fancher from Stockbridge Capital Group and Robert Korda from Korda Group were involved in the deal as representatives. The brokers in this transaction were Kevin Green, Greg Harris, and Joseph Grabiec.

"San Dimas continues to be a heavily supply-constrained market; there is a lack of available land and aggregating parcels is difficult," said Kevin Green. "Only 156 units have been added to the apartment stock in San Dimas in the last 10 years, and the average vacancy is 2.5 percent."