The Venue at Orange has sold for $148.4 million, marking one of the Inland Empire’s largest multifamily trades in recent years.
At about $450,000 per unit, the deal also reflects one of the region’s highest recorded per‑unit prices in the Inland Empire.
Sentinel Real Estate's deal to buy the property has won a 2026 CoStar Impact Award, as voted on by judges with knowledge of the market.
"The sale reflects institutional belief in Redlands’ long-term fundamentals, demographics, and rent growth potential. Its scale, pricing, and timing make it a truly market-defining transaction," said judge Rene Ramos Jr., president at KW Commercial Inland Empire.
Completed in 2023 by seller LuxView Properties, the 328‑unit complex reached stabilization quickly thanks to strong demand from renters earning an average of $135,000.
The New York City-based buyer manages $9.6 billion in assets, with 29,000 apartment units across 5.2 million square feet of commercial space.
Market forces also helped shape the deal’s momentum, including elevated interest rates, tight new supply and expensive single‑family homes. Those dynamics continue to steer renters toward modern, low‑density rentals like those found in Redlands.
About the project: The 328-unit property sits near major employers such as Loma Linda University and Medical Center, Amazon and Clorox.
What the judges said: "Its scale, swift lease-up to an affluent tenant base, and status as the first high-quality stabilized trade in the region since 2021 make it a clear signal of renewed investor confidence and market strength," said Jacinto Munoz of Cogito Realty Partners.
They made it happen: LuxView Properties; Sentinel Real Estate; and the IPA/Marcus & Millichap team of Christopher Zorbas, Kevin Green, Joseph Grabiec, Kyle Pinkalla, Alexander Garcia Jr., and Gregory Harris.
This article was updated on March 25 to correct the description of Sentinel Real Estate's portfolio.