Berkadia Completes Sale for Value-Add Apartments in Corona
IRVINE, Calif. – August 21, 2023 – Berkadia Institutional Solutions announced today the sale of Hills of Corona, a 248-unit garden-style multifamily property located in Corona, California. The Southern California Berkadia Institutional Solutions team led by Derrek Ostrzyzek, Rachel Parsons, and Tom Moran Jr. completed the brokered sale to a private Los Angeles investor. The deal closed on August 15.
“The Hills of Corona checks all the boxes for investors,” said Ostrzyzek. “The property boasts a low-density campus with 53 percent townhome floor plans, immediate access to the 91 Freeway, walkability to the best schools in Corona, and over 1 million square feet of retail.”
Located at 2365 S Promenade Avenue, Hills of Corona features one- and two-bedroom floor plans with walk-in closets, dishwashers, private balconies or patios and in-unit washers and dryers. Community amenities include a clubhouse, a fitness center, two swimming pools, a business center and a spa. Residents are afforded convenient access to Hidden Valley Golf Course, Lake Hill Reserve Park, Lake Mathews Estelle Mountain Reserve, and the shops and restaurants along Highway 91 and Interstate 15.