88-Unit Senior Facility in Inland Empire Sells for $12MM

Inland Empire, Grand Terrace, Vista Blue Mountain Assisted Living and Memory Care, MHRE Grand Terrace, San Bernardino County, Mountain View, Village Green Apartment Homes, Security Properties, Alliant Strategic Investments

By Catherine Sweeney 

The Inland Empire has seen a significant number of transactions in recent months. In one transaction that took place earlier this month, an 88-unit senior living facility traded hands. The property, Vista Blue Mountain Assisted Living and Memory Care, sold for $12 million, or about $136,363 per unit. The buyer in the transaction was MHRE Grand Terrace LLC, and the seller in the transaction was an entity linked to Blake Parsons, according to public records. 

The facility is located at 22325 Barton Road and consists of one two-story, 49,025 square foot building built in 1988. According to its website, Vista Blue Mountain also offers various onsite services and amenities for residents, including weekly housekeeping, laundry service, outdoor seating, shuttle service, activities and medical and personal services.  

The property is situated in southern San Bernardino County, the property is surrounded by a number of single family homes, retail and commercial buildings. The property is also located near Interstate 215 and Interstate 10. 

The San Bernardino area as a whole has seen a number of residential properties trade hands over the past year.

One property that sold during the final quarter of 2022 is an affordable housing community located at 2122 Chestnut St. The property, Village Green Apartment Homes, consists of 184 units and was acquired by Security Properties for $33 million, or about $179,347 per square foot. The property was sold by Alliant Strategic Investments. 

Prior to that in April, Mountain and Mountain View Apartments, an 80-unit apartment complex in San Bernardino was sold for $13.3 million, or about $166,250 per unit. The property is located across two separate buildings at 2991 & 2995 Mountain Ave.