Victorville, Calif. – Coldwell Banker Commercial’s Multifamily Team has coordinated the sale of a 21-unit apartment building in Banning. Serving the greater High Desert region, Coldwell Banker Commercial’s Multifamily Team also services Fontana, San Bernardino, Banning, Beaumont, Rialto and many other cities within the Inland Empire. Coldwell Banker Commercial’s Multifamily Team, Bob Basen and Jerrad Schendel are increasing the number of transactions both within and outside of the High Desert area due to increased client demand.
Coldwell Banker Commercial’s Vice President, Bob Basen and Multifamily specialist, Jerrad Schendel represented both the buyer and seller of the sizable property. The seller was a trustee of an LLC who sought out Basen and Schendel due to their large footprint in the Multifamily Sector. The buyer was a repeat client who worked with Basen and Schendel on Multifamily purchases in the past. With a final sales price of $1.5 million, both parties needed a team that would get the transaction completed smoothly and efficiently.
“The Multifamily Sector is extremely competitive for buyers both locally in the High Desert and in the greater Inland Empire region. We are anticipating the demand to continue rising as inventory remains scarce. With the competitive nature of this division, it is imperative to move quickly with both the buyers and sellers to ensure deals aren’t lost due to time and other outside conditions. We were pleased a repeat client continues to choose our team for all of their Multifamily needs,” stated Basen.
“Many of the investors we work with, purchase Multifamily properties throughout the Southern California region. With our growing footprint, we are able to assist these clients with sales throughout California and are pleased when our team continues to be top of mind for their commercial real estate needs,” added Schendel. “Once we know a client’s needs Bob and I will not stop until we find the perfect investment for them.”
For more information on how you can work with the Coldwell Banker Commercial Multifamily Team, call (760) 684-8000.