COLTON, CA – Tower 16 Capital Partners has sold its 352-unit multifamily property in Colton, CA to MG Properties Group for $88 million.

The property, District at Grand Terrace, sold for a price that equates to $250,000 per unit.

Tower 16 Capital Partners originally purchased the community in 2019, prior to implementing a $2.6 million capital improvement program at the property.

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.