Institutional Property Advisors Closes $48.5M Inland Empire Multifamily Asset Sale
May 15, 2026
UPLAND, Calif., May 15, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Upland Village Green, a multifamily asset in Upland, California. The property sold for $48.5 million.
“Placed on the market for the first time in over 40 years by the original developer and operator, Upland Village Green provides the buyer with strong cash flow, a durable income stream, and the potential to enhance net-operating income with operational efficiencies, strategic value-add enhancements, and loss-to-lease capture,” said Kevin Green, IPA executive managing director. Green, Joseph Grabiec, Chris Zorbas, and Gregory Harris of IPA represented the seller and procured the buyer, WMC Commercial Properties. “The sale represents one of only four 100-plus unit value-add transactions in San Bernardino County in the last 24 months, further underscoring our team’s continued execution and market leadership in the region,” said Grabiec.
Located on the eastern border of Upland near Ontario and Rancho Cucamonga, the property is close to the San Gabriel Mountain foothills, the Los Angeles County border, and Ontario International Airport. Within five miles there is nearly 10 million square feet of warehousing and distribution facilities built within the last five years or in development, including the Ontario Airport Distribution Center, and the West Ontario Distribution Center. Shopping and dining are nearby in Downtown Upland and at the Montclair Place shopping mall. The Claremont Colleges are within a short drive.
Upland Village Green is a 24-residential building property with electronic access entry gates, a swimming pool, spa, and sundeck. Apartments have open floor plans, a private patio or balcony, and illuminated ceiling fans.
“Placed on the market for the first time in over 40 years by the original developer and operator, Upland Village Green provides the buyer with strong cash flow, a durable income stream, and the potential to enhance net-operating income with operational efficiencies, strategic value-add enhancements, and loss-to-lease capture,” said Kevin Green, IPA executive managing director. Green, Joseph Grabiec, Chris Zorbas, and Gregory Harris of IPA represented the seller and procured the buyer, WMC Commercial Properties. “The sale represents one of only four 100-plus unit value-add transactions in San Bernardino County in the last 24 months, further underscoring our team’s continued execution and market leadership in the region,” said Grabiec.
Located on the eastern border of Upland near Ontario and Rancho Cucamonga, the property is close to the San Gabriel Mountain foothills, the Los Angeles County border, and Ontario International Airport. Within five miles there is nearly 10 million square feet of warehousing and distribution facilities built within the last five years or in development, including the Ontario Airport Distribution Center, and the West Ontario Distribution Center. Shopping and dining are nearby in Downtown Upland and at the Montclair Place shopping mall. The Claremont Colleges are within a short drive.
Upland Village Green is a 24-residential building property with electronic access entry gates, a swimming pool, spa, and sundeck. Apartments have open floor plans, a private patio or balcony, and illuminated ceiling fans.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.