2 apartment complexes in Moreno Valley sell for $ 107 million; Yoga studio opens in Chino Hills – San Bernardino Sun
Two apartment complexes in Moreno Valley were sold to a San Diego investment firm for $ 107.2 million.
Tower 16 Capital Partners purchased the Sienna Pointe complex, which has 384 units, and the Heacock Park Apartments with 120 units.
The seller was not identified.
These agreements represent Inland Empire’s fifth and sixth acquisitions for Tower 16 Capital Partners.
“Both of these properties are essentially untouched and offer tremendous potential for transformation,” said Tower 16 co-founder Mike Farley. “After renovation, both properties will still be considered affordable for residents of the Moreno Valley.
Sienna Pointe Apartments at 13933 Chagall Court has a clubhouse, playground and three swimming pools. Heacock Park Apartments at 13325 Heacock Street features indoor parking, a playground, laundry facilities and a swimming pool with spa.
Tower 16 said it would spend nearly $ 10 million to modernize and renovate the two properties. The improvements include the modernization of the apartments, pavilions and gymnasiums. The swimming pools will also be given a facelift.
New outdoor amenities will include barbecues, seating and outdoor play areas.
Yoga studio opens in Chino Hills
YogaSix opened at the end of July at the Chino Hills Shoppes.
The studio is owned and operated by Michele and Neil Gratton, who also have a YogaSix studio in Ontario.
The studio offers a variety of yoga classes for all fitness levels. YogaSix Chino Hills will have classes throughout the day, morning, afternoon and evening.
Les Grattons are also looking for new yoga instructors to join their team. Contact them or send a demo to [email protected]
For more information, visit www.yogasix.com/location/chino-hills or call 909-789-1111.
Address: 13925 City Center Drive, Suite 2013
Office complex sells for $ 11.4 million
Dornin Investment Group has sold a 46,089 square foot three-story office building at 3550 Vine St. in Riverside for $ 11.4 million,
The deal was negotiated by CBRE.
DIG had recently completed renovations to the lobby, common areas and landscaping while building two speculative office suites.
The Vine Street building, which was sold to an unidentified investor, was the fourth property in a portfolio of five properties that DIG sold to Riverside. The company said it bought the properties in October 2018 for $ 44.25 million, and so far sales have totaled $ 46.4 million.
The medical building sells for $ 4.3 million
A medical office building in Palm Desert has been sold to an unidentified buyer for $ 4.3 million, according to representatives from CBRE.
The 9,257 square foot two-lot building at 72415 Park View Drive includes a dental facility, including two orthodontists, a periodontist and an endodontist.
Cray Carlson and Kevin Sin of CBRE represented the unidentified buyer. Wilson Meade’s Noel Ramos represented the vendor.
Opening of port freight at Rialto
Harbor Freight Tools, the discount store for handymen or handyman, opens its doors on Saturday August 14 in Rialto.
The store located at 260 E Baseline Road is the 122nd Harbor Freight Tools store in California. The company hired some 25 to 30 people to support the store.
The weekly hours are from 8 a.m. to 8 p.m. Monday to Saturday and from 9 a.m. to 6 p.m. on Sunday.
The store manager is Isabel Burdine
“At Harbor Freight, we recognize that now, more than ever, our customers depend on us for the tools they need to get the job done affordably,” she said.
The store sells a selection of tools and equipment of all types, including automotive, pneumatic and power tools, storage, outdoor electrical equipment, generators, welding supplies, workshop equipment and tools. by hand.
As a safety protocol during the COVID-19 pandemic, all Harbor Freight stores have implemented more frequent cleaning and are following the guidelines of the Centers for Disease Control. Anyone with symptoms of COVID-19 is encouraged to shop on our website, www.harborfreight.com rather than in our stores.
Grant recipients announced
Six companies in the Inland Empire have received small business grants from Founders First CDC.
The Job Creators Quest Grant supports underrepresented entrepreneurs in Southern California. A total of ten local businesses received part of a $ 30,000 grant as well as a full scholarship to one of Founders First CDC’s acceleration programs. In addition to the Inland winners, two recipients were in Orange County and one in Los Angeles. The main grant of $ 10,000 went to Westcliff Properties in Santa Ana.
Funding for this program was provided, in part, by a $ 1 million grant from the Rockefeller Foundation in addition to recent $ 9 million Series A funding from Founders First Capital Partners.
Inland winners include:
- $ 2,500: B Team Solutions, Bethany Smith – Desert Hot Spring
- $ 2,500: Boost, Ray Bass – Corona training systems
- $ 1,000: Skin Theory, Shauna Michels – Corona
- $ 1,000: Freedom in Motion, Jimmy Davidson – Loma Linda
- $ 1,000: Carrillo Concrete Services, José Carrillo – San Bernardino
- $ 1,000: Roark Financial, Eric Roark – Ontario
Mehdi Bettahar, 52, of Moreno Valley, has been appointed deputy deputy director for site mitigation in the Department of Toxic Substance Control, where he has served as Head of Exide’s Residential Cleaning Branch since 2019 and has was a hazardous substances engineer and project manager from 2018 to 2019. This position does not require confirmation from the Senate and the remuneration is $ 174,048. Bettahar is registered without party preference.
California tax credit claims are open
The state GO-Biz (Governor’s Office for Business and Economic Development) accepts requests for $ 150 million in tax credits.
Businesses that grow and create full-time jobs in California are eligible for the California Competes tax credit.
For more information: calcompetes.ca.gov.
Applications should be sent on Monday August 16 at 11:59 p.m.
For more information on the CCTC, the state will host free application webinars on August 5 and 10.
Business briefs are compiled and edited by business editor Samantha Gowen. Submit articles to [email protected] High resolution images can also be submitted. Allow at least a week for publication. Elements are edited for length and clarity.