Tailwind Investment Group has acquired The Vue, a 197-unit multifamily community in San Bernardino, for $53.6 mil, or $272k per unit. Situated on 11.94 acres at 1660 W. Kendall Dr, the property was sold by Dalan Management and VM Management.
Built in 1988, The Vue is situated in proximity to California State University, San Bernardino. The property features a variety of amenities, including two swimming pools, business center, sand volleyball court, half-court basketball court, and barbecue areas. Apartments are equipped with in-unit washer-dryers and central A/C.
The Vue is located near the 210, 215 and 15 freeways, allowing residents immediate access to Los Angeles County, the greater Inland Empire region, and a variety of nearby entertainment centers. Residents are within walking distance to amenities, including Campus Crossroads Shopping Center and The Shops at University Park.
CBRE’s Dean Zander and Stewart Weston represented the sellers in the transaction.
"With minimal new apartment supply coupled with an abundance of jobs in the warehousing, manufacturing, distribution and logistics centers nearby, investors are demonstrating a strong and growing preference for well-located Inland Empire apartment buildings,” said Zander. “Tailwind plans to perform unit interior and common area upgrades to better-position The Vue in this highly desirable submarket."
Added Weston, "The Vue has benefited from the phenomenal rent growth over the last couple of years, which is consistent with overall rent growth in The Inland Empire, which has increased 22% since the fourth quarter of 2019."