CBRE Facilitates $17.4 Million Sale of Multifamily Community

CBRE has arranged the sale of the Willow Townhomes, a newly constructed 39-unit building at 221 North Mountain Avenue in Ontario, Calif., to a foreign investor.

CBRE’s Eric Chen, Blake Torgerson and Kevin Sin represented the seller, 221 N Mountain Ave Holding LLC, in the transaction.

The Willow Townhomes offers a thoughtfully designed mix of one- and two-bedroom units, each averaging 998 square feet. The community amenities feature private garages equipped with electric vehicle charging stations, contemporary finishes, in-unit laundry facilities and private balconies.

"This transaction underscores the growing demand for high-end living spaces in the City of Ontario," said Mr. Chen, Executive Vice President at CBRE. “We generated significant interest, resulting in a competitive bidding environment and exceptional price and terms. Our collaboration with Cannon Management during the development phase ensured the property was leased up within 4 months of the certificate of occupancy, maximizing its potential and achieving outstanding results for our client."

The property has quick access to Ontario International Airport, nearby freeways, and a range of local amenities, including Ontario Mills, Toyota Arena and Victoria Gardens.