Archway Equities acquires Southern California multifamily property for $150m

Archway Equities has acquired The Paseos at Montclair North from 4914 Olive Street Properties for $150 million, according to multiple media outlets.

The 385-unit multifamily community is located at 4914 Olive St. in Montclair, Calif., spanning nearly two full city blocks. The unit mix includes studio, one-, two- and three-bedroom options centered around a park with a concert amphitheater. Other amenities include two resort-style pool areas with spas and cabanas, a state-of-the-art fitness center, a yoga room, conference center, entertainment lounge, and more. At the time of closing, the property was 97 percent occupied.

The property’s location offers access to the growing Inland Empire economy as well as major employment hubs in the Los Angeles area. The property is near both Interstates 10 and 210. The Paseos is also within walking distance of the Montclair TransCenter, an intermodal transit hub for bus and train services throughout the region. The property also nei