SoCal luxury apartments sell for $151M

Site eligible for conversion

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Transwestern recently arranged the sale of Chambray & Meritage at Victoria Arbors, two luxury apartment communities located in Southern California's Inland Empire. Fairfield Residential and Heitman Financial sold the properties for an aggregate $151 million to The Tuckerman Group. Chambray & Meritage at Victoria Arbors are situated on 11.3 acres at 7828 Day Creek Blvd. in Rancho Cucamonga. Comprising a total of 14 three-story buildings, Chambray at Victoria Arbors features 270 units with 256,134 rentable square feet, while Meritage at Victoria Arbors features 319 units with 322,107 rentable square feet. Built in 2005, both properties have a tentative tract map in place that allows for immediate conversion to condominiums. Transwestern is a privately held commercial real estate firm operating nationwide....