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Standard Communities & Faring Acquire Multifamily Property In Pomona For $130M

120-180 East Monterey Avenue
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This MultiFamily property located in CA was sold for $130,000,000 over 2 years ago. The brokers of the deal were Stewart (Stew) Weston and Dean Zander

Standard Communities and Faring have acquired a multifamily asset in Pomona for $130,000,000. The property, located at 120-180 E. Monterey Ave., consists of 349 units with a total square footage of 240,000. This translates to an average price per unit of $372,492 and a price per square foot of $541. The transaction was facilitated by Clear Capital, represented by Greg Worchell, while Dean Zander and Stew Weston of CBRE acted as the brokers for the buyer.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $130,000,000
  • Units: 349
  • Price per Unit: $372,492
  • Square Footage: 240,000
  • Price per Square Foot: $541
  • Address: 120-180 E. Monterey Ave.
  • Market: Pomona

The property acquisition was led by Jeff Jaeger, Chris Cruz, and Jason Illoulian from Standard Communities and Faring. They join forces to secure this notable deal in the Pomona market. The involvement of Dean Zander and Stew Weston from CBRE as the buyer's representatives demonstrates their expertise in handling such high-value transactions.

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Deals
  • Location
    120 East Monterey Avenue, Pomona, CA 91767, USA120 East Monterey Avenue, Pomona, CA 91767, USA
  • Sale Price
    $130,000,000$130,000,000
    $541 PPSF$541 PPSF
  • Area
    240,000 SF240,000 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Stewart (Stew) Weston

Stewart (Stew) Weston

Deals22
Sold$1.8B

Dean Zander

Dean Zander

Deals25
Sold$1.9B

Agency

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

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Deal Summary

SALE IMAGE: Dean Zander & Stew Weston DATE: 12/09/2021 ADDRESS: 120-180 E. Monterey Ave. MARKET: Pomona ASSET TYPE: Multifamily BUYER: Standard Communities & Faring - Jeff Jaeger, Chris Cruz & Jason Illoulian SELLER: Clear Capital - Greg Worchell BROKERS: Dean Zander (@Deanzzz1) & Stew Weston (@StewWeston) - CBRE SALE PRICE: $130,000,000 UNITS: 349 ~ PPU: $372,492 SF: 240,000 ~ PPSF: $541

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120-180 East Monterey Avenue

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