Monterey Station (Monterey Station)
A mixed-use loft community in Downtown Pomona was picked up for $85 million, or $243,553 per unit, Real Capital Analytics shows.
Realm Real Estate sold its stake in the 349-unit property at 120-180 E. Monterey Avenue to Sherman Oaks-based financial firm Clear Capital and private equity firm Bascom Group, RCA shows. However, Bascom Group was Realm’s partner on the development, which broke ground in 2013. It is unclear whether Realm sold the entire property or just its stake. The firm did not immediately respond to a request for comment.
The Monterey Station apartment is located across from the Pomona Metro Station and near Western University of Health Sciences.
The 292,288-square-foot building was developed by Realm in 2014 and sits on 6.71 acres, RCA shows.
Dean Zander, Joe Leon and Jeff Rowerdink of Berkadia brokered the sale. The brokers could not be reached for comment.