In the largest multifamily transaction in Southern California to close this year, real estate investment firm Archway Equities has acquired The Paseos at Montclair North, a 385-unit multifamily community in the Inland Empire community of Montclair for $150 million.

For Archway, which has more than $1B in commercial real estate assets under management, including 5,000 apartment units across the Sunbelt, The Paseos represents the firm's first multifamily investment in California.

JLL marketed the property for the seller, 4914 Olive Street Properties. Archway assumed the accretive in place Agency loan with five years remaining on the term.

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