Advanced Real Estate is growing its Southern California multifamily holdings with the acquisition of an apartment complex in the Inland Empire. The Orange County-based firm acquired the 253-unit Casitas Apartment Homes at 1900 South Campus Avenue in Ontario for $56.2 million, or approximately $222,000 per unit, Commercial Observer reported. Benedict Canyon Equities was the seller, according to city records cited by Commercial Observer. The Mogharebi Group’s Otto Ozen and Jordan Pakzad represented the seller. The 1963-built Casitas development is spread across nearly 15 acres in a series of single-story buildings. The community boasts one-bedroom apartments averaging 550 square feet and […]
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