VICTORVILLE, CA (November 29, 2017) – SVN |MCRE, Inc., one of the nation’s premier commercial real estate brokerage firms, has completed the sale of a multi-family portfolio consisting of 320 units in Victorville, Calif. to Sagebrush Capital Holdings for a total of $27.4 million. Michael Miyagishima, CCIM, Managing Director of SVN | MCRE, Inc. brokered the sale of this portfolio, which is comprised of two apartment communities, The Colony and Golden Sands. Miyagishima represented the seller, Tomanek Associates.
“This transaction was highly favorable to both the seller and buyer, as the portfolio offers a fantastic value add opportunity in light of economic fundamentals,” said Miyagishima. “Through the support of SVN’s cutting-edge tools and marketing platforms, we were able to broker the deal with a high return on investment for the seller.”
The first property within the portfolio, The Colony is located at 14450 El Evado Road and sits on 8.96 acres. With 200 units, the 172,000 square-foot apartment community sold for $17.7 Million. Golden Sands is a 93,600 square feet apartment community located at 15930 Nisqually Road. Consisting of 120 units, the complex sold for $9.7 Million.
Victorville is a city in southern California located off Interstate 15. Just northeast of Los Angeles, the city of Victorville continues to serve as a popular location for businesses.
About SVN | MCRE, Inc.
SVN | MCRE, Inc. is an independently owned and operated SVN® office. The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues and our communities. The SVN Brand is comprised of over 1,600 Advisors and staff in more than 200 offices across the globe. Our brand pillars represent the transparency, innovation and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues and communities. For more information, visit svn.com.
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