On Thursday, real estate management company CP Capital announced the sale of The Gabriel, a 312-unit apartment complex in Pomona. The property was sold at 94% occupancy and its location at 2771 N. Garey Ave makes it a desirable investment opportunity.
Despite challenges faced by the multifamily sector in recent years, Kristi Nootens, co-head of CP Capital remains optimistic about its resilience and continued demand from renters even after new supply is fully absorbed. This sale serves as evidence that the sector is entering a new era of growth for investors.
The spokesperson for CP Capital confirmed that Rachel Parsons and Derrek Ostrzyzek represented them during the sale process with Berkadia but have since moved to CBRE. Located near public transportation options such as Routes 66 and 67 as well as being adjacent to Pomona (North) Metrolink Station in eastern Los Angeles County make The Gabriel an attractive option for potential buyers.
