Waterton has acquired Terracina at 3303 S Archibald Ave. in Ontario, Calif.
The 41.3-acre community includes 46 two-story residential buildings comprising 736 apartment homes and a clubhouse. The property will be rebranded as Citrine Hills.
“The Southern California market has exceptional apartment market fundamentals and we were attracted to Terracina for its complexity, size and value add potential,” said Jeremy Stern, vice president, acquisitions at Waterton. “Terracina is well-suited to complement our existing portfolio in the region and we look forward to implementing our signature value add program with in-unit upgrades and amenity enhancements to bring the community in line with competing product in the region.”
Built in 1989, Terracina is centrally located in the Greater Ontario submarket of the Inland Empire region, one of the top population-growth markets in Southern California, according to CoStar. The location, immediately adjacent to the we
