9/3/2008

Hendricks & Partners broker $29M sale of Inland Empire multi-family

by Michael Wayne
K-W Properties, Inc. has paid $29.25 million for the Cambridge Park Apartments in Montclair, Calif., to Montclair 8-B, LLC, C/O Acacia Capital Corp.

Hendricks & Partners' Joe Leon and Paul Runkle brokered the deal on behalf of the seller.

The complex is located at 9200 Monte Vista Ave. and sold for $177,273 per unit, an Inland Empire record price for 100-plus-unit apartments in 2008. The 165-unit property was built in 1974 and renovated in 2003. It is comprised of 22 two-story building on 8.24 acres.

Address: 9200 Monte Vista Ave., Montclair, Calif.

Size: 165 units

Built: 1974

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Filed Under: Multi-Family

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