CBRE Announces Sale of 197-Unit Apartment Building in California’s Inland Empire to Tailwind Investment Group for $53.6 Million

COMMERCIAL REAL ESTATE TRANSACTION ALERT

CBRE announced the sale of 197-unit apartment property in California’s Inland Empire to Tailwind Investment Group, an Orange County-based real estate investment firm, for $53.6 million.

CBRE’s Dean Zander and Stewart Weston represented the sellers, Dalan Management and VM
Management, in the transaction.

The Vue, located at 1660 W. Kendall Drive in San Bernardino, was built in 1988 and is situated on
11.94 acres 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.

“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 percent since
the fourth quarter of 2019.”