NorthMarq arranges $35 million sale of Arrive at Rancho Belago in Moreno Valley, California
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.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
