Fore Property Sells Arte Apartment Community in Rancho Cucamonga for $68M
RANCHO CUCAMONGA, CALIF. — Santa Barbara, Calif.-based Fore Property has completed the disposition of Arte, a multifamily property located in Rancho Cucamonga. An affiliate of Encinitas, Calif.-based Providence Capital Group acquired the asset for $68 million, or $373,626 per unit.
Located at 10130 Foothill Blvd., Arte features 182 apartments in a mix of 10 floor plans, including one-, two- and three-bedroom layouts. Each unit features a patio or balcony, washer/dryer, stainless steel appliances, quartz countertops, hardwood-style flooring and walk-in closets. On-site amenities include an outdoor kitchen and barbecue fireplace; bar area; television entertainment wall; fire tables; a pool and spa; two-story fitness center with spin/yoga room; dog park; and game room. The property was built in 2019 on 4.4 acres.
Peter Hauser, Matt Hauser and Masa Ito of Avison Young’s Irvine, Calif., office represented the seller and buyer in the transaction.