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Tower 16 Capital Partners Acquires Multifamily Property In Colton For $41M

1333 Reche Canyon Road, 2270 Cahuilla Street
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This MultiFamily property located in CA was sold for $41,000,000 almost 3 years ago. The brokers of the deal were Morgon Fraser, Stewart (Stew) Weston, Scott Peterson, Dean Zander, and William (Bill) Chiles

Tower 16 Capital Partners, represented by Mike Farley, has acquired a multifamily asset in Colton, located at 1333 Reche Canyon Road and 2270 Cahuilla Street. The property consists of 214 units and was sold by Logan Capital Advisors, represented by Ruben Islas. The transaction, facilitated by Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander of CBRE, concluded on May 18, 2021. The sale price for this transaction was $41,000,000, resulting in an average price per unit of $191,588.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $41,000,000
  • Units: 214
  • Buyer: Tower 16 Capital Partners - Mike Farley
  • Seller: Logan Capital Advisors - Ruben Islas
  • Brokers: Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander - CBRE

This notable transaction involved several key individuals and companies. Tower 16 Capital Partners, led by Mike Farley, successfully acquired the multifamily asset in Colton from Logan Capital Advisors, represented by Ruben Islas. The deal was executed with the assistance of CBRE brokers Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston, and Dean Zander. The transaction highlights the ongoing activity and investment in the Colton market.

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Deals
  • Location
    1333 Reche Canyon Road, Colton, CA, USA1333 Reche Canyon Road, Colton, CA, USA
  • Sale Price
    $41,000,000$41,000,000
    $38,570 PPSF$38,570 PPSF
  • Area
    1,063 SF1,063 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Morgon Fraser

Morgon Fraser

Deals5
Financed$171.9M

William (Bill) Chiles

William (Bill) Chiles

Deals10
Financed$384.3M

Scott Peterson

Scott Peterson

Deals9
Financed$317.2M

Dean Zander

Dean Zander

Deals25
Sold$1.9B

Agency

CBRE

CBRE

Agency
Deals4231
Volume$184.3B

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Deal Summary

SALE IMAGE: Bill Chiles, Stew Weston, Ruben Islas, Morgon Fraser, Mike Farley, Dean Zander & Scott Peterson DATE: 05/18/2021 ADDRESS: 1333 Reche Canyon Road, 2270 Cahuilla Street MARKET: Colton ASSET TYPE: Multifamily BUYER: Tower 16 Capital Partners - Mike Farley SELLER: Logan Capital Advisors - Ruben Islas BROKERS: Scott Peterson, Bill Chiles, Morgon Fraser, Stew Weston & Dean Zander - CBRE SALE PRICE: $41,000,000 UNITS: 214 ~ PPU: $191,588

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1333 Reche Canyon Road, 2270 Cahuilla Street

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