Transactions - MARCH 31, 2020

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Providence Capital Group buys luxury apartment community for $68m

by Andrea Zander

Arte, a 182-unit, luxury apartment community in Rancho Cucamonga, Calif., was acquired by an affiliate of Providence Capital Group Inc for $68 million. The asset, located at 10130 Foothill Blvd., was sold by Fore Property.

Built in 2019 and situated on 4.41 acres, the property consists of six buildings of four stories each. Onsite community amenities include an outdoor kitchen and BBQ fireplace, bar area, TV entertainment wall, fire tables, pool and spa, state-of-the-art two-story fitness center with spin/yoga room, dog park, and game room, among a number of other amenities. It is located near Victoria Gardens, a 147-acre lifestyle center, and the Ontario International Airport.

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