Multifamily deal closes in California’s Inland Empire

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Marcus & Millichap Real arranged the sale of the Meadowland apartment community in Rialto, Calif. The value of the transaction was $26.9 million. The identities of the buyer and seller were not disclosed. Constructed in 1989, Meadowland is located at 200 S. Linden. The 347-unit apartment complex is situated on approximately 16.3 acres and consists of 95 one-bedroom/one-bath units, 251 two-bedroom/two-bath units and one three-bedroom/three-bath unit. The property has 265,037 rentable square feet. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....