Brixton Capital sells 227-unit apartment community, Elevate at Towngate in Moreno Valley for $41M ($180k/unit) to FPA Multifamily

3/25/2025

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REBusinessOnline

• Subcategory: MF: Affordable, MF: Market Rate

• Tag: Sale

• Additional Filters-Subcategory: MF: Garden

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Jones Lang LaSalle (NYSE: JLL), FPA Multifamily, Brixton Capital

Brixton Capital has completed the disposition of Elevate at Towngate, a multifamily property in Moreno Valley. San Francisco-based FPA Multifamily acquired the asset for $41 million. Brixton Capital originally acquired the property in December 2017 for $28 million, rebranded and renovated the asset.