Coldwell Banker Commercial Realty Closes $21M Off-Market Sale of 92-Unit Apartment Complex Within Park-Like Setting in Upland, Calif.
UPLAND, CALIF. (Feb. 13, 2025) – Coldwell Banker Commercial Realty is pleased to announce the $21 million sale of Coventry Square Apartments in Upland. The complex is known for its park-like setting with mature landscapes and community activities around the pool. Coventry Square Apartments is located on a 9.5-acre lot at 1012 W Arrow Highway, less than two miles from the MetroLink Station.
Endri Hoxha of Coldwell Banker Commercial Realty and Philip Batlin from Marcus & Millichap represented the buyer, MJW Investments, a Los Angeles-based real estate firm, in the off-market sale. According to MJW Investments, this transaction “underscores the firm’s commitment to identifying and capitalizing on value-add opportunities in strategic markets.”
Sarah Hillhouse of Coldwell Banker Realty represented the sellers, the Tsang & Chan family, who have owned the property over 25 years. The sellers have known Hillhouse for many years prior to entrusting her with their purchase and sale of commercial properties. This offer that was presented to Hillhouse and her clients by Hoxha and Batlin was professionally packaged where the buyer made sure to keep everyone’s interests fairly represented.
“This was a very quick close on a great property and an exceptional investment opportunity. The buyer was in a 1031 exchange and we were thrilled to be able to secure this deal for them,” said Hoxha.
“The sellers were not expecting to sell, but Endri Hoxha and Philip Batlin made an initial offer that got the sellers thinking about the possibility. After some negotiations, the sellers accepted the offer from MJW Investments. The escrow went smoothly thanks to the constant communication and professionalism of Endri Hoxha and Philip Batlin. That is what it takes to get the job done,” said Hillhouse.
Constructed in 1980, Coventry Square includes 92 two-bed and two-bath oversized units, private enclosed patios, in-unit washers and dryers, 92 carport parking spaces, a central pool with community activities, and park-like grounds with mature trees and lush landscapes. The apartments, each averaging 1,178 square feet, are spread across 46 single-story two-plexes totaling 68,400 square feet.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises of nearly 200 independently owned and operated affiliates as well as owned brokerage and more than 3,000 professionals in 40 countries. For additional information, visit www.cbcworldwide.com.
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Media Contact: Kevin Guhl, kevin.guhl@cbhomeoffice.com, 973-407-5916
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