Geoff Palmer Sells Inland Empire Community for 0M
Multifamily investment is mounting in Southern California's Inland Empire. An entity tied to billionaire developer Geoff Palmer has sold a 385-unit...
Multifamily investment is mounting in Southern California's Inland Empire. An entity tied to billionaire developer Geoff Palmer has sold a 385-unit multifamily community in Montclair, Calif., in Pomona Valley for $150 million. Real estate investment firm Archway Equities acquired the property at 97 percent leased, for the company's first multifamily deal in California. Citing CoStar data, representatives for the buyer said the property, called The Paseos at Montclair North, is so far the largest of the 546 multifamily transactions to close this year in Southern California, and only the second transaction to trade at more than $100 million.