Cushman & Wakefield announced today the sale of Archstone Terracina, located at 3303 South Archibald Avenue, Ontario, CA (91761) for $95,000,000.
Cushman & Wakefield’s Multifamily Advisory Group led by Ed Rosen and John Chu represented the seller, Archstone. The buyer was MG Properties.
Archstone Terracina, a two-story walk up community, was built in 1988. The complex offers a total of 736 one and two bedroom units on just over 41 acres. The complex offers four pools, spa and sauna, four tennis courts, racquetball court, fitness center and detached garages.
The property is adjacent to the San Bernardino Mountains and offers residents convenient access to the Interstate 10, Interstate 15, State Route 60, the Ontario International Airport, shopping and business centers.
According to Rosen, “Terracina was an accretive investment with today’s low-interest rate financing; and it was a real pleasure to work with Greg Campbell of Archstone on this transaction. He and his team made the sales process as smooth as possible.”