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3/31/20
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Arte, a 182-unit, luxury apartment community in Rancho Cucamonga, was acquired by an affiliate of Providence Capital Group Inc for $68 mil, or $373.6k/unit. The asset, located at 10130 Foothill Blvd, was sold by Fore Property, out of Santa Barbara.
Built in 2019 and situated on 4.41 acres, the property consists of six, four-story buildings. The units offer 10 floorplans that include one-, two- and three-bedroom units featuring a patio or balcony, washer/dryer, stainless steel appliances, quartz countertops, hardwood-style flooring, and walk-in closets. On-site community amenities include an outdoor kitchen and BBQ fireplace, bar area, TV entertainment wall, fire tables, pool and spa, state-of-the-art two-story fitness center with spin/yoga room, dog park, and game room, among a number of other amenities.
Arte is just a short drive down Foothill Blvd to Victoria Gardens, a 147-acre lifestyle center with an abundance of dining and shopping selections. It is also centrally located near the 210, 15, and 10 freeways and is less than four miles from the Ontario International Airport.
Avison Young’s Peter Hauser, Matt Hauser and Masa Ito represented Fore Property and Encinitas-based Providence Capital Group.
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