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7/28/20
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Silver Star Real Estate acquired Amber Ridge Apartments, a 147-unit, garden-style multifamily community in La Verne, for $49.7 mil ($338k/unit). The purchase was financed with a $30.58 mil acquisition loan.
Located at 2421 Foothill Blvd, in the eastern San Gabriel Valley, Amber Ridge Apartments boasts breathtaking mountain views. The apartment community is near various retail, restaurants and entertainment and is about 30 miles from downtown Los Angeles.
Featuring a combination of both modern and classic apartment styles, Amber Ridge has a heated swimming pool, 24-hour fitness center, barbeque area with outdoor entertainment such as picnic areas, two playgrounds, a clubhouse and more.
Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the seller, a private investment group based in Southern California. Greg Brown, Nicolas Lench and Charlie Vorsheck with JLL Capital Markets arranged the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.
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