Sales Records Set in Inland Empire
Two recent investment property sales set records for the Inland Empire, according to brokers involved in the transactions.
GTS Properties Hollywood Inc. of Rolling Hills Estates bought the 628-unit Baywood Villa Apartments at 1171 E. Baywood Drive in Corona from CT Realty Corp. of Newport Beach for $55 million.
The figure was the highest price ever paid for an apartment complex in the Inland Empire, said Sean Deasy of CB Richard Ellis, who represented CT Realty. The buyer was represented by Frank Wang and James Yang of Pacific International Properties Inc.
Empire Lakes LLC bought the 241,292-square-foot Empire Lakes Corporate Center at 9500 Cleveland Ave. in Rancho Cucamonga from Legacy Partners for $22 million. The deal was the largest office property sale in the Inland Empire in the last two years, said Michael Ross of Colliers Seeley International, who represented the buyer and the seller.
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