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Coldwell Banker Commercial Closes on 48-unit Apartment Complex

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Basen-Schendel Team Negotiates $3,500,000 Deal

Coldwell Banker Commercial Closes on 48-unit Apartment Complex

Basen-Schendel Team Negotiates $3,500,000 Deal

 

 

VICTORVILLE, Calif. – September 27, 2018 – Coldwell Banker Commercial, named the High Desert’s 2017 Power Broker by Costar, the nation’s most respected commercial real estate data service, today announced another multi-million-dollar transaction with the recent sale of Desert Oasis Apartments located at 11211 La Habra Avenue in Adelanto.

The $3.5 million purchase and sale agreement was negotiated by Vice President Bob Basen and Commercial Investment Specialist Jerrad Schendel for both the seller and buyer of the 48-unit apartment property.

“Apartment assets, which are at all-time highs as far as occupancy rates are concerned, are in great demand,” said Basen. “Jerrad and I have been very successful in closing several deals on apartment properties this year.”

The apartment complex contains both 1- and 2-bedroom floorplans, which include carports and laundry room. The property is located at the northwest corner of La Habra and Bellflower Street near U. S. Highway 395 and close to schools, parks, the library and City Hall.

“This is another impressive sale from our team of multi-family specialists, Bob Basen and Jerrad Schendel,” said Coldwell Banker Commercial President, Jason Lamoreaux. “Their knowledge of this investment sector offers a great advantage to both buyers and sellers who will benefit from Bob and Jerrad’s expertise.”

This transaction was an off-market sale that was put together when the Basen-Schendel team brought together an investor from Orange County who had a 1031 exchange need, and an owner who was ready to retire and wanted to diversify her investment portfolio for security. Very satisfied with this real estate transaction, property seller Elizabeth Hoekstra said, “The experience and success of working with Bob and Jerrad exceeded my expectations.”

“In this case, the buyer/investor is liquidating all his real estate investments in Orange County and moving everything to San Bernardino County, primarily the Victor Valley,” said Schendel. “We are actively working with this investor to identify additional investment properties.”

Coldwell Banker Commercial specializes in many real estate sectors including multi-family, office, retail, industrial, land and capital markets. Their team of real estate professionals provide an array of services from lease transactions and sales to property management. To reach the Basen-Schendel team or any other member of Coldwell Banker Commercial regarding your real estate needs, please call (760) 684-8000 or visit their website at www.cbcdesert.com.

 

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About Coldwell Banker Commercial Affiliates, Inc.

Coldwell Banker Commercial Affiliates is one of the leading franchisors of commercial real estate services through the Coldwell Banker Commercial® brand. Founded by Chris and Jason Lamoreaux, Coldwell Banker Commercial Real Estate Solutions is an independently-owned and operated affiliate member of Coldwell Banker Commercial, a premier provider of real estate services and a leader in the commercial real estate industry. The Coldwell Banker Commercial network of brokers serves the needs of owners and occupiers in the leasing, acquisition, disposition, structured finance and management of all property types. The Coldwell Banker® network of commercial brokers can be found in over 500 offices in 41 countries. For additional information about Coldwell Banker Commercial Real Estate Solutions, contact the Victorville office at (760) 684-8000 or visit www.cbcdesert.com. CAL BRE #01857050

 

About Coldwell Banker®

Since 1906, the Coldwell Banker®organization has been a premier provider of full-service residential and today is the #1 dollar volume real estate firm in the nation. Coldwell Banker® is the oldest national real estate brand in the United States and today has a network of more than 82,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Locations YouTube channel.  The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.  Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.