Marcus & Millichap finalized the sale of Amber Pines Apartments, a 23-unit multifamily property located at 330 Amber Ct. in Upland. The property sold for $5.9 million, or $257,717 per unit.
“Amber Pines features a mix of spacious studio, one- and two-bedroom floor plans,” said Douglas McCauley, senior managing director investments. “The asset’s prime north Upland location and strong underlying fundamentals provide the buyer with a solid foundation to add value through interior upgrades and property improvements over time.”
McCauley and David Covarrubias, investment specialists in Marcus & Millichap’s Inland Empire office, represented the buyer, A-SF Limited Partnership. The seller was a California trust.
Built in 1975, the 22,118-square-foot property is situated on 0.75 acres. Unit amenities include central air conditioning and heating, private patios and balconies, fireplaces, dishwashers and in-unit washers and dryers. Community amenities include a swimming pool, barbecue area and 35 carports and open parking spaces.
City and state officials joined representatives from Catholic Charities and community leaders to cut the ribbon on the new Catholic Charities Gail P. Duke Senior Residence. This $143.4-million development will provide 141 units of affordable sustainable apartments for low-income seniors with supportive services in the Brownsville neighborhood of Brooklyn. The Gail P. Duke Senior Residence,...
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PREMIER Design + Build Group has launched construction on M7 Lofts, a multifamily adaptive reuse project developed by Saber-Hightower and Granoff Real Estate. The project will convert two existing office buildings at the Merritt 7 campus in Norwalk, CT into 286 loft-style apartments across 511,000 square feet spanning eight floors. M7 Lofts represents a significant...
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National full-service real estate firm Draper and Kramer, Incorporated, has purchased a 268-unit luxury multifamily rental building in Evanston, Ill., a suburb directly north of Chicago and home to Northwestern University. The 15-story property, Albion Evanston, will be rebranded as Eva under Draper and Kramer’s ownership. Draper and Kramer will also assume property management of...
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