NorthMarq arranges $35 million sale of Arrive at Rancho Belago in Moreno Valley, California
Arrive at Rancho Belago
SAN DIEGO, CALIFORNIA (August 12, 2021) – Kyle Pinkalla of the San Diego Investment Sales team arranged the $35 million sale of Arrive at Rancho Belago, a 125-unit multifamily property located at 16340 Lasselle Street in Moreno Valley, California. Pinkalla represented the seller and sourced the buyer in the transaction as well.
“This transaction came together during construction and plans were to close the deal after completion. Due to Covid the end date was a moving target, but with great teamwork from all sides we were able to get this done,” said Pinkalla.
The property was purchased from Continental East Development, Inc., and the buyer is FPA Multifamily, LLC.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
