Tower 16 Capital Partners Acquires Moreno Valley Multifamily For $107.3M

Tower 16 Capital Partners, represented by Mike Farley and Tyler Pruett, purchased a multifamily property in Moreno Valley. The property, located at 13933 Chagall Court and 13325 Heacock Street, consists of 504 units and spans 405,328 square feet. The sale price for this transaction was $107,250,000, resulting in a per unit price of approximately $212,797. The price per square foot was around $264, and the property's capitalization rate is 4.0%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $107,250,000
• Address: 13933 Chagall Court & 13325 Heacock Street, Moreno Valley
• Market: Moreno Valley
• Units: 504
• Price per Unit: $212,797
• Square Footage: 405,328
• Price per Square Foot: $264
• Capitalization Rate: 4.0%

The buyer's representatives in this transaction were Tower 16 Capital Partners' Mike Farley and Tyler Pruett. They were assisted by Brian Nelson from Colliers International and Nicole Parrish from Centurion Realty.