Marcus & Millichap’s division, Institutional Property Advisors (IPA), recently completed the sale of LuxLiv Apartments in Riverside. The 62-unit apartment property was sold for an undisclosed amount.
According to IPA Senior Vice President Kyle Pinkalla, the Inland Empire is experiencing strong employment growth in healthcare, government and logistics sectors. The location of LuxLiv Apartments provides residents with easy access to job centers in Los Angeles, Orange County, San Gabriel Valley and the South Bay.
Pinkalla worked alongside Alexander Garcia Jr. and Chris Zorbas from IPA to represent Redhill Realty Investors LP as sellers and procured Vanamor Investments as buyers. Additionally, Brian Eisendrath,Cameron Chalfant,Jake Vitta,and Tyler Johnson from IPA Capital Markets arranged financing for the acquisition.
LuxLiv Apartments is conveniently located near California State Route 91 with easy access to Interstates 15 and 215 which connect residents to job centers throughout the Inland Empire region. The La Sierra Metrolink station is only two miles away while shopping and entertainment options can be found at nearby locations such as Magnolia Place,Galleria at Tyler,and West Plaza Shopping Center.
