SAN DIEGO – June 21, 2018 – Berkadia today announced the $44.5 million sale of Broadstone Serrano, a 254-unit garden-style multifamily property in San Bernardino, California. Kyle Pinkalla of the San Diego office and Shane Shafer of the Irvine, California office completed the sale on behalf of the buyer, California-based Crystal Asset Management, Inc. The seller was Strata Serrano LLC, an affiliate of San Diego-based Strata Equity Group. The deal closed on June 21.
“Broadstone Serrano presented the perfect opportunity for the buyer to undertake a full renovation strategy and to position the property to compete as a higher-end rental option in North San Bernardino,” said Pinkalla.
Located at 1930 W. College Ave., the property offers one- and two-bedroom floorplans. Apartment amenities include dishwashers, microwaves, ceiling fans, fireplaces, washers and dryers and car ports. Residents enjoy community features such as a swimming pool and spa, a laundry facility, a fitness center, a business center, tennis courts, barbeque grills and a TV lounge. The property is approximately one mile from California State University San Bernardino and is easily accessible via Interstate Route 215.