CBRE Arranges $2.2M Acquisition of Multifamily Building in Palm Desert, California

PALM DESERT, CALIF. — CBRE has brokered the purchase of an apartment property located at 73435 San Gorgonio Way in the Coachella Valley city of Palm Desert. A Los Angeles-based private investor acquired the asset from an undisclosed seller for $2.2 million, or $264 per square foot, in an off-market transaction.

Dan Blackwell and Andrew Boukather of CBRE represented the buyer in the deal.

Built in 1988, the two-story, 8,360-square-foot building offers 10 two-bedroom apartments with a patios or balconies, a community pool and garage parking.