Golden Sands Apartments, a 120-unit multifamily community in Victorville, has been acquired in a $21 million transaction orchestrated by CBRE. The property, located at 15930 Nisqualli Rd., was sold by Hanes Golden Sands Apartments LP to Aspen Real Estate Financial LLC (AREF), which completed the purchase in partnership with the Housing Authority of the County of San Bernardino (HACSB) and the California Affordable Housing Agency (CalAHA).
CBRE’s Cray Carlson represented the seller in the disposition. On the buy-side, the partnership was advised by Matt Benwitt of Lee & Associates. The structure brings together a private real estate investment firm with public and quasi-public housing agencies, aligning capital and mission-driven objectives to deliver workforce-oriented housing.
According to CBRE, the acquisition continues a broader initiative by AREF and HACSB to increase attainable housing options for families across the region. The Golden Sands transaction is positioned as part of a growing portfolio approach, in which the partnership targets existing multifamily assets that can support long-term affordability goals.
This deal is the second transaction using this collaborative structure that CBRE and Carlson have completed with AREF and HACSB in the past eight months. In June 2025, AREF partnered with HACSB and CalAHA to acquire Echo Apartment Homes, a 38-unit community in San Bernardino, for $12.3 million. That earlier acquisition established the framework for the parties’ ongoing efforts to expand housing access through repeat investment activity.
Carlson described Golden Sands Apartments as an important addition for Victorville, noting that the community delivers workforce housing in a rapidly growing area. While specific capital plans for the property were not disclosed, the involvement of HACSB and CalAHA underscores the public-sector focus on preserving and expanding housing options that remain accessible to working households.
The Golden Sands and Echo Apartment Homes acquisitions together highlight how public agencies and private capital are collaborating to scale workforce and attainable housing. By repeatedly using a similar structure over a relatively short period, the partnership is beginning to assemble a regional platform focused on existing multifamily communities that can support long-term affordability objectives.
