Archway Equities acquires Southern California multi-housing community for $150m
Archway Equities announced it has acquired The Paseos at Montclair, a 385-unit multi-housing community located in the Inland Empire community of Montclair. Pacific Urban Investors’ (PUI) Structured Finance Group provided Preferred Equity to Archway Equities to facilitate the acquisition.
Built in 2014, the garden-apartment style community features a unit mix of studio and one-, two- and three-bedroom Santa Barbara–inspired townhomes built around a central linear park with a concert amphitheater. Amenities at the complex include two resort-style pool areas with spas and cabanas, a fitness facility, a children’s entertainment suite, a yoga room, a conference center and an entertainment lounge.
In proximity to Interstates 10 and 210, the property is within walking distance of the Montclair Transit Center, an intermodal facility providing bus and train service throughout the region. The property also neighbors Claremont McKenna College.
“We are very excit