REDLANDS, CALIF. — Institutional Property Advisors (IPA) has arranged the $148.4 million sale of The Venue at Orange, a newly built, 328-unit property in Redlands, 62 miles east of Los Angeles. The sales price equates to $452,439 per unit. The seller, California-based LuxView Properties, developed The Venue at Orange in 2023. The buyer was New York-based Sentinel Real Estate Corp. IPA’s Chris Zorbas, Kevin Green, Joseph Grabiec, Kyle Pinkalla, Alexander Garcia Jr. and Gregory Harris represented the seller and procured the buyer.
The community comprises seven three-story buildings with gated access, a pool and hot tub, fitness center, coworking spaces, a lounge and barbecue area. Apartment interiors have nine-foot ceilings, quartz countertops, walk-in closets and a patio or balcony.