POMONA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $36.7 million sale of Terramonte at Foothill, an apartment property in Pomona. Positive Investments sold the asset to Sack Capital Partners for $265,942 per unit. Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr. And Greg Harris of IPA represented the seller and procured the buyer in the transaction.
Built in 1963 on 9 acres and renovated between 2012 and 2023, Terramonte at Foothills features 138 apartments, two swimming pools, sundecks, a spa, fitness center, barbecue pavilion, coworking space and garages. The unit mix is 70 percent two-bedroom units, plus studios and one- and three-bedroom apartments, with an average unit size of 910 square feet.