WALNUT CREEK, CA - Sequoia announces the acquisition of Sunridge Alta Loma, a 247-unit, garden-style apartment community located in the neighborhood of Alta Loma in Rancho Cucamonga, California. This acquisition increases the firm's portfolio holdings to 13,495 units. The property was developed in 1986 and is comprised of over 290,000 residential square feet situated on 17+ acres.
The community offers a well-located, low-density setting that provides fast access to three major freeways servicing Los Angeles County and the employment-booming western Inland Empire.
“Sunridge offers a value-add opportunity for our investors”, explains Sequoia’s General Partner Pat Reilly. “We plan to break ground this summer on a $6+ million renovation that seeks to expand the property’s current amenity offerings, improve energy efficiency, and update unit interiors. These enhancements will align Sequoia’s reputation for delivering quality service with a product that exceeds the standards of today’s renter.”
Sequoia will initiate a rebrand of the community as well, starting with changing its name to Sonora at Alta Loma, and their management arm will provide the day-to-day management services for the building.
About Sequoia Equities, Inc. Established in 1986, Sequoia has always remained committed to its mission of striving to make the ordinary a little more special by inspiring our employees and creating communities where people can expect more out of everyday life. Over 25,000 residents come home to a Sequoia community at the end of the day. Offering more than just great locations and comfortable residences, each community is managed by a team of professionals dedicated to creating customer experiences that are consistently memorable and truly referral-worthy.