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Stoneridge Apts. in Upland Sells for $42 Million

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $140,000 per unit.

Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange.

Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the deal…

via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780?ref=/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780&src=rss

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