REIT builds SoCal multifamily portfolio

Grubb & Ellis Co. represented BRE Properties Inc., a San Francisco-based multifamily REIT, in the purchase of Mission Grove Park, a 432-unit apartment complex in Riverside, Calif.

The transaction was valued at $75.8 million.

The 31-building frame/stucco complex is located at 7450 Northrop Drive in the Canyon Crest area. The complex was built in 2001.

Century City, Calif.-based Mission Grove Apartments LP sold the asset.

Grubb & Ellis is a worldwide provider of integrated real estate services.

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