PCCP, Alliance buy Riverside apartment complex for $65M
PCCP and Alliance Residential Company plunked down more than $65 million for an apartment complex in the Inland Empire’s biggest city. The two firms acquired The Hawthorne, a 184-unit multifamily property at 9170 Indiana Avenue in Riverside, for $65.3 million, Multi-Housing News reported. The Carlyle Group and Brandywine Homes were the sellers. The Hawthorne opened in 2023 and consists of 16 two- and three-story buildings with one-, two- and three-bedroom units averaging 873 square feet. City National Bank provided a $34 million construction loan in 2020. PCCP and Alliance Residential have been on a multifamily tear across the country over […]This article originally appeared on The Real Deal. Click here to read the full story.
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