+1-786-628-7980
Sign Up/Sign In 
Received 12% Covid-19 Discount on Latest Acquisition in Inland Empire
Irvine, CA – March 3, 2021 – Irvine-based private equity real estate investment firm, Clear Capital, LLC, acquired The Colony at Victorville, a 200-unit apartment community in Victorville, CA, for $24.5 million. This acquisition marks its third deal closed within a 90-day period. The previous two deals that Clear Capital acquired include a 244-unit apartment community in Carrollton, TX and a 96-unit apartment community in Lakewood, CO.
Constructed in 1988, Colony at Victorville is situated on 8.7 acres at 14450 El Evado Rd, Victorville, CA. The community offers a favorable unit mix of larger 2- and 3-bedroom apartment homes along with amenities such as a swimming pool, fitness center, basketball court and playground.
“The Colony at Victorville’s location in the Inland Empire of Southern California is advantageous due to the rapid and persistent growth of E-Commerce and its affordability relative to other parts of California,” says Eric Sussman, Partner at Clear Capital. “It’s solid rental price point caters to an under-served renter demographic in a neighborhood surrounded by more expensive newer construction communities and less-expensive but inaccessible affordable housing communities with 12-18 month long wait lists,” says Sussman.
The Colony at Victorville was purchased through a loan assumption with 6 years remaining at a 4.78% floating interest rate. “By assuming the existing loan, Clear Capital will inherit a higher going in yield and acquire the asset at a discount to Pre-COVID19 pricing of more than 12%,” says Enrique Huerta, Clear Capital’s Vice President of Acquisitions.
The acquisition of Colony at Victorville marks Clear Capital’s 20th multifamily investment and its eleventh in California. Clear Capital currently owns over 4,000 units and plans to continue to build its portfolio across the United States.
Clear Capital, LLC is a private real estate investment firm with a 20+ year track record of creating significant value for investors. Since its inception in 1996, Clear Capital’s Principals, which combined have over 100 years of real estate investment experience, have applied a distinctive approach to investing across the Sunbelt markets. Clear Capital owns 20 properties with over 4,000 units in Los Angeles County, the Inland Empire, Texas, Colorado, and Arizona. Clear Capital and its affiliates control over $800 million in multi-family real estate investments that have consistently produced strong average returns in the mid-to-upper teens. For more information, market research from Founding Partner and renowned UCLA Business School Professor Eric Sussman, or to make an investment, please visit clearcapllc.com. You can also follow us on Twitter, Linkedin, Facebook, or Instagram for the latest company developments.
