Brixton Capital Sells 227-Unit Apartment Community in Moreno Valley, California

MORENO VALLEY, CALIF. — Brixton Capital has completed the disposition of Elevate at Towngate, a multifamily property in Moreno Valley. San Francisco-based FPA Multifamily acquired the asset for $41 million. Brixton Capital originally acquired the property in December 2017 for $28 million, rebranded and renovated the asset.

Built in 1973, Elevate at Towngate offers 227 units spread across seven residential buildings. The one-, two- and three-bedroom apartments range from 590 square feet to 1,224 square feet.

Chelsea Jervis, CJ Angle and Blake Rodgers of JLL represented Brixton, while the buyer was self-represented in the deal.