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$25.4M Deal Comes Year After OC Group Buy
REAL ESTATE
Santa Ana-based SchoolsFirst Federal Credit Union, the largest credit union in California, has added one of the most prominent office buildings in the Inland Empire market to its real estate portfolio.
The firm, which had $13.9 billion in assets as of mid-2017 and is the country's largest credit union for school employees, completed the purchase this month of one of two buildings at the Towers at Riverwalk office complex in Riverside, paying about $25.4 million.
It was already the primary tenant at 4204 Riverwalk Parkway, using the site as its Inland Empire headquarters, a regional office, call center and retail branch.
The four-story, 96,500square-foot office just off the Riverside (91) Freeway about three miles east of the Corona (15) Freeway, sold for nearly $263 per square foot.
It was sold by a venture headed by Newport...