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Tower 16 Acquires Multifamily Property In Colton, Inland Empire For $41M

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This MultiFamily property located in CA was sold for $41,000,000 almost 4 years ago. The brokers of the deal were Stewart (Stew) Weston and Dean Zander

Located in Colton, Inland Empire, the multifamily property at 1333 Reche Ridge was recently sold in a closed transaction. The sale, facilitated by Dean Zander & Stew Weston of an undisclosed agency, involved the buyer Tower 16 and the seller Logan Capital. The transaction took place on 05/12/2021.

Summary of Transaction Details

  • Property Type: Multifamily
  • Sale Price: $41,000,000
  • Number of Units: 214
  • Price Per Unit: $191,588

The sale of this multifamily property exemplifies the active real estate market in the Inland Empire region. Tower 16, represented by Dean Zander & Stew Weston, successfully acquired the property from Logan Capital. This acquisition adds to Tower 16's growing portfolio of multifamily assets in the area.

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Deals
  • Location
    1333 Reche Canyon Ridge, Colton, CA, USA1333 Reche Canyon Ridge, Colton, CA, USA
  • Sale Price
    $41,000,000$41,000,000
    $39,309 PPSF$39,309 PPSF
  • Area
    1,043 SF1,043 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
Deals4231
Volume$184.3B

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Deal Summary

SALE IMAGE: Dean Zander & Stew Weston DATE: 05/12/2021 ADDRESS: 1333 Reche Ridge MARKET: Colton, Inland Empire ASSET TYPE: Multifamily BUYER: Tower 16 SELLER: Logan Capital BROKERS: Dean Zander & Stew Weston SALE PRICE: $41,000,000 UNITS: 214 ~ PPU: $191,588

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