An affiliate of San Diego-based Forge Partners has sold a Lake Elsinore apartment complex for $23.5 million.
The Parker Equity Fund, LLC sold Lakehouse apartments at 15195 Lincoln St. to Prism Multifamily Group, based in Ontario, Canada.
Tyler Sinks, Ed Rosen, and John Chu of Berkadia’s San Diego office represented Parker Equity Fund.
Prism Multifamily Group represented itself.
“Despite these uncertain times, we received tremendous interest in Lakehouse given the lack of available product in the Inland Empire,” Sinks said. “This transaction is a testament to the strength of Southern California multifamily properties and yet another example of record pricing being achieved.”
The apartment complex has a mix of one-bedroom, two-bedroom, and three-bedroom apartments.
The apartments have gas stoves, walk-in closets, wood-style flooring, in-unit washers and dryers, and private patios or balconies.
Community amenities include dual pools and spas with cabanas, a picnic area with barbecues, a playground area, and two laundry rooms.