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MORENO VALLEY, CALIF. — CBRE has negotiated the sale of Bevia Apartments, a multifamily property located at 13260 Heacock St. in the Inland Empire city of Moreno Valley. Bevia Apartments Owners I LLC acquired the asset from Bevia Apts LLC for $8.7 million, or $181,667 per unit.
Eric Chen and Blake Torgerson of CBRE represented the buyer and seller in the deal.
Bevia Apartments features 48 studio, one-, two- and three-bedroom floor plans. The property has undergone significant renovation after a fire damaged the units. The new owner will continue to finish post-fire damage construction and plans to stabilize the property, which was half vacant at the time of sale.