LAKE ELSINORE, CA-Investors have purchased 293 Inland Empire apartment units for $22.5 million in two separate deals here and in Hemet, according to Marcus & Millichap. Alex Mogharebi in Marcus & Millichap’s Ontario office reports that a Southern California-based partnership bought the 149-unit Grand Oaks Apartments at 15162 Grand Ave. in Lake Elsinore from another locally based partnership for $12.1 million, with Mogharebi representing both parties. The Grand Oaks, which was built in 1986, comprises of 35 one-bedroom, 74 two-bedroom and 40 three-bedroom apartments, ranging from 660 sf to 1,020 sf. The property is located within a few blocks of the 3,500-acre Lake Elsinore.In the Hemet purchase, also brokered by Mogharebi, La Jolla-based Pacific Gilmore Villas LLC acquired the 144-unit Whispering Apartments from Indianapolis-based Pedcor Investments for $10.4 million. The property, at 241 S. Yale St., includes studios, one-, two- and three-bedroom apartments ranging from 550 sf to 1,320 sf.

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