Marcus & Millichap closes Eagle Ridge deal

Marcus & Millichap brokered the sale of the 144-unit Eagle Ridge Apartments in Colton, Calif.

The value of the transaction was $11.5 million.

Colton Ridge, an investment partnership based in Carmel, Ind., sold the property to a Los Angeles-based partnership.

Eagle Ridge Apartments is located at 1313 & 1315 S. Meadow Lane. The property was constructed in 1979 and includes 128,432 rentable square feet. The unit mix includes 56 one-bedroom and 88 two-bedroom apartments. The units range in size from 788 to 958 square feet. Community amenities include a covered barbecue area and two swimming pools.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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