INLAND EMPIRE, CA-Phoenix Realty Group has acquired twp apartment buildings in the Inland Empire for a combined $65 million. The real estate investment firm has purchased Galleria at Towngate Apartments, a 268-unit complex in Moreno Valley, for $30.8 million and Windrush Village Apartments, a 366-unit complex in Colton, for $34.5 million.
Irvine-based BRE Properties Inc. was the seller of both properties. John McCulloch of ARA Pacific in San Francisco brokered the sale and Los Angeles-based CBRE Capital Markets arranged financing for the deal. For the full story, go to Los Angeles Business .
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