Tower 16 Capital Partners Announces Sale of 80-Unit Hillside Village Apartment Community for $16.5 Million in San Bernardino
ENCINITAS, CA - Tower 16 Capital Partners has sold Hillside Village Apartments, an 80-unit multifamily project in San Bernardino, for $16.5 million. The property was purchased in January 2019 for $11 million in an off-market transaction. Tower 16 recently sold another Inland Empire property, The District at Grand Terrace, for $88 million. “We made major improvements to the Hillside Village project during our ownership,” said Tower 16 Co-Founder Tyler Pruett. “That allowed us to achieve our business plan relatively quickly. Despite this sale, we plan on re-investing in multifamily proper...