Archway Equities, a real estate investment firm with more than $1 billion in commercial real estate assets under management, has acquired The Paseos at Montclair North for $150 million. This 385-unit multifamily property located in the Inland Empire community of Montclair is reportedly the largest multifamily transaction to close year to date in Southern California. 4914 Olive Street Properties LLC was the seller and Archway assumed an accretive in-place agency loan with five years remaining on its term.
Commenting on this acquisition, Sean Moghavem – President of Archway – noted that select pockets of Southern California should now provide more attractive risk-adjusted returns due to cap rates inverting between Sunbelt and coastal markets. The new ownership plans updates for this garden style townhome complex which delivered back 2014.
