MURRIETA, Calif. – November 5, 2020 – Berkadia today announced the sale of The Crossings at Chino Hills, a 346-unit garden-style multifamily property in Chino Hills, California. Senior Director Margie Molloy of Berkadia’s Murrieta, California office completed the sale on behalf of the buyer Irvine, California-based Advanced Real Estate Services. The seller was Utah-based Bridge Investment Group, and the deal closed on October 13.
“The Crossings at Chino Hills is a new, fully-leased, Class A apartment building in the prestigious city of Chino Hills,” said Molloy. “The property was purchased off-market with a large nonrefundable deposit at signing. The economics of the transaction support what many have speculated—that well-located, well-built properties in the Inland Empire have not been devalued by the COVID-19 pandemic.”
Located at 15101 Fairfield Ranch Road, The Crossings at Chino Hills features one-, two- and three-bedroom floor plans with stainless-steel appliances, custom cabinets and wood-style flooring. Built in 2017, the newly constructed community includes amenities such as, a resort-style pool with cabanas, an outdoor kitchen area with barbeque grills, a game room and covered parking. Residents are afforded access to Chino Hills Marketplace, the Chino Creek Wetlands and Educational Park and Ontario International Airport. The property also provides convenience for commuting residents, with easy access to the 71, 142 and 83 Freeways.