Abacus Capital Group Acquires the Ashton Apartments in Corona

Abacus Capital Group, through an affiliate, acquired the Ashton Apartments in Corona for $136.5 million, or $277,000 per unit, from CapitaLand International USA. In a concurrent transaction, it acquired CentrePointe Greens in Everett, Washington, for $38.2 million, or $205,000 per unit. Sklar Kirsch represented Abacus Capital Group in the combined $174.8-million purchase.

Singapore-based CapitaLand International USA originally acquired the properties as part of a 16-property, $835-million transaction in 2018. Ashton Apartments was the second largest apartment sale this year in the Inland Empire behind Bell Murrieta Springs, a 492-unit apartment located in Murrieta that sold for $146.5 million.

Located at 2178 Stoneridge Drive, Ashton Apartments features 1-, 2-, and 3-bedroom apartments. Rents range from $1,584 to $2,582 per month.