The Picerne Group Breaks Ground on New Multifamily Residential Project at Prime Location in Ontario, Calif.

Vistara, a 298-Unit Apartment Community, Should Be Ready for Leasing in Mid 2015

Marketwired

ONTARIO, CA--(Marketwired - Aug 1, 2014) - The Picerne Group, a privately held real estate investment firm based in Southern California, recently broke ground on Vistara, a Class A, 298-unit apartment community at Haven Avenue and 4th Street. This project is expected to be completed and ready to lease by the 2nd quarter of 2015. The groundbreaking ceremony took place on Monday, July 14 and was attended by several city officials including, to name just a few, City of Ontario Mayor Paul S. Leon, Mayor Pro Tem Alan D. Wapner and City Council member Jim W. Bowman.

The community, which is being built on 11.29 acres of currently vacant land, is less than three miles from the Los Angeles/Ontario International Airport, the Ontario Mills® outlet mall with 200+ stores and Citizens Business Bank Arena, the largest and most modern sports venue in the Inland Empire. It also offers convenient access to two main transportation arteries of San Bernardino County, Interstates 10 and 15.

"We want to thank the city of Ontario for implementing the vision for placing residential in the Ontario Business Center, so that employment and high quality housing can co-exist with retail and entertainment, which will complement the community in the future," said Brad Perozzi, The Picerne Group's managing director of Southern California development.

Designed by Architects Orange, one of Southern California's most respected and sought-after architectural and planning firms, Vistara will appeal to young professionals and families who can take advantage of the top-rated schools in the Cucamonga School District. The location is a gateway to all the recreational and cultural opportunities Southern California has to offer -- mountains, deserts, beaches and theme parks -- including the Arnold Palmer-designed Empire Lakes Golf Course. 

The project will consist of one-, two- and three-bedroom units, a resort-style pool and spa with barbecue and fire pit areas, a clubhouse with media and game components, state-of-the-art fitness center and Wi-Fi throughout common areas.

Lush landscaped paseos will wind through the property and shaded areas will provide dining and social gathering areas. The new home interiors will feature fully equipped gourmet kitchens, designer cabinetry and fixtures, quartz countertops, and in home washers and dryers.

About The Picerne Group

The Picerne Group (TPG) is a privately held, Southern California-based real estate investment firm that focuses on real estate investments nationwide, as well as best-in-class asset management. TPG has successfully invested more than $1 billion in real estate equity and debt, diversifying investments across a variety of property types and geographies in the United States. The firm's executive committee members combined have decades of experience in managing complex portfolios of residential and commercial real estate, joint ventures and loans. Additional information is available at www.picernegroup.com.

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