JLL Capital Markets secured a $20.5-million acquisition financing for Fontana Multifamily Portfolio, comprising two newly constructed apartment communities in Fontana. The JLL Capital Markets Debt Advisory team led by managing director Dale Holzer worked on behalf of the borrower, a local private investor, in arranging the loan through Keystone National Group, LLC.
The Fontana Portfolio consists of two 2024-built apartment communities, 8969 Newport Ave. and 16220 Arrow Blvd. The portfolio was purchased for $30.5 million as one transaction. The 24-unit 8969 Newport Ave. features spacious one-, two- and three-bedroom units. This property is situated on a well-proportioned lot. 16220 Arrow Blvd. is a 72-unit community featuring the same mix of unit types.
“These newly constructed multifamily assets represented an excellent investment opportunity in the growing Inland Empire market,” said Holzer. “Fontana continues to attract residents seeking quality housing options with convenient access to employment centers throughout Southern California.”
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