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IRVINE, CA-The Irvine-based Aslan Realty Group has snapped up an apartment complex in Chino for $6.5 million, as local investors continue to buy up multifamily property in the Inland Empire.

The Chino property is located at 11838 Central Avenue. Known as Village Crossing Apartments, it contains 108 units.

Marjorie Malloy of Hendricks & Partners represented both Aslan Realty Group and the seller, Village Crossing Chino Ltd.

The Inland Empire’s multifamily sector continues to garner interest from local investors, as it is one of the fastest growing regions in Southern California. Riverside is the third fastest growing county in California and San Bernardino is the fifth, researchers at Grubb & Ellis say. Rent growth is expected to be in the 5% to 6% range over the next 12 to 18 months, as the vacancy slips closer to 4%.

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