PALM DESERT, CALIF. — CBRE has arranged the sale of Ariana at El Paseo, an apartment building in the Coachella Valley city of Palm Desert. Investment Concepts acquired the asset from 45278 Deep Canyon Road for $14 million, or $222,222 per unit.
Eric Chen, Kevin Sin, Blake Torgerson, Dean Zander and Stew Weston of CBRE represented the seller in the deal.
Located at 45278 Deep Canyon Road, the 63-unit property features a mix of studio, one- and two-bedroom floor plans, averaging 865 square feet. Each unit offers a fully equipped kitchen, vinyl plank flooring, oversized patios and balconies, central air and heating, and large closets.
Community amenities include a resort-style pool, onsite laundry facilities, an outdoor lounge and fireplace, a pet play area and barbecue stations.