Positive Investments is adding to its Inland Empire portfolio. In a deal that closed earlier this month, the Arcadia-based firm, in partnership with Foundation for Affordable Housing, acquired a 154-unit apartment complex in Coachella for $16.6 million, or about $107,792 per unit. The seller was an entity tracing to Alden Torch Financial, according to Vizzda records.
The property, also known as Orchard Villas, is located at 84500 52nd Ave. and consists of 20 two-story buildings on nearly 10 acres. The property was constructed in 2003 and features a mix of three- and four-bedroom units, according to Apartments.com.
In addition, the complex is home to a number of onsite amenities, such as a pool, playground, clubhouse, storage space, laundry facilities and more. The Bagdouma Park is also situated just north of the complex.
The Foundation for Affordable Housing is a Laguna Beach-based organization with the goal of creating affordable homes for the communities it serves. Overall, the organization has housed approximately 60,000 people through 127 family communities and 60 senior communities, according to its website.
Founded in 1976, Positive Investments is a real estate investment and property management company with a focus on multifamily, office and hotel properties. The firm has completed a number of deals throughout the Inland Empire.
In March, the company purchased a 284-unit senior living community in Wildomar for $28.5 million, or about $100,352 per unit. The property is located at 32325 S Pasadena St. and features both independent and assisted living options.
Additionally, in November 2022, Positive Investments acquired a 272-unit senior housing community in Rialto for $36.5 million, or about $134,191 per unit from an entity affiliated with Greentree Senior Apartments LLC. The property is located at 245 East First Street.
