CBRE has successfully arranged the sale of Ariana at El Paseo, a 63-unit boutique apartment complex in Palm Desert. The property was sold for $14 million to Investment Concepts, Inc. The seller was represented by a team of experts including Eric Chen, Kevin Sin, Blake Torgerson, Dean Zander and Stew Weston.
According to Chen, the team utilized effective marketing strategies to attract multiple competitive offers for this unpriced property. This resulted in the largest multifamily transaction in Palm Desert within the last eight years. The previous owner passed away and her trustee was responsible for selling the asset; all proceeds from this sale were generously donated to various charities.
The apartments are situated at 45278 Deep Canyon Road and offer a variety of studio, one- and two-bedroom floorplans with an average size of 865 square feet each. Each unit boasts modern amenities such as fully equipped kitchens with vinyl plank flooring, spacious patios or balconies overlooking scenic views , central air conditioning/heating systems ,and ample closet space . Residents can also enjoy community features like a resort-style pool area , onsite laundry facilities , outdoor lounge areas with fireplaces , pet play area,and BBQ stations .
This recent transaction marks another successful deal by CBRE’s expert team in Southern California’s real estate market.
