Hillside Village Apartments, an 80-unit multifamily project in San Bernardino, was sold by Tower 16 Capital Partners for $16.5 million.
“We made major improvements to the Hillside Village project during our ownership,” said Tower 16 Co-Founder Tyler Pruett. “That allowed us to achieve our business plan relatively quickly. Despite this sale, we plan on re-investing in multifamily properties throughout the Inland Empire over the next several years.”
Hillside Village is located at 2196 Kendall Drive in San Bernardino, within one mile of California State University, San Bernardino and features one- and two-bedroom apartments with covered parking and private balconies or patios, a pool, spa, clubhouse and laundry facilities.
Real estate brokers Ed Rosen, John Chu and Tyler Sinks of Berkadia San Diego represented Tower 16 on the sale.
The property was purchased in January 2019 for $11 million in an off-market transaction.