Marcus & Millichap Inc.'s Institutional Property Advisors recently brokered the $148.4 million sale of The Venue at Orange, a newly constructed 328-unit multifamily property in Redlands, California. Sold at $452,439 per unit, this transaction marks the first high-quality, stabilized multifamily asset sale in the Inland Empire since 2021. The Venue at Orange, completed in 2023, features resort-style amenities and has quickly attracted affluent renters, benefiting from the area's strong demographics and demand for low-density living. The property is strategically located near major employers and retail centers, with convenient access to transportation networks.
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