Institutional Property Advisors Brokers $36.7 Million Multifamily Sale of Terramonte at Foothill in Pomona
POMONA, Calif., Aug. 3, 2026 — Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI), has brokered the $36.7 million sale of Terramonte at Foothill, a 138-unit multifamily property in Pomona, California. Sack Capital Partners acquired the asset from Positive Investments at a price of $265,942 per unit.
A Rare Large-Scale Multifamily Transaction in Pomona
The deal stands out for its scarcity in the local market. Institutional Property Advisors executive director Kevin Green noted that the sale is one of only four transactions involving 100-plus-unit, market-rate multifamily properties in Pomona over the last five years. That limited trading history underscores the thin institutional inventory in the submarket, where large-scale, market-rate apartment assets are uncommon.
The IPA brokerage team representing seller Positive Investments and procuring buyer Sack Capital Partners included Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr., and Greg Harris.
At 138 units averaging 910 square feet each, the property encompasses approximately 125,000 square feet of residential area, implying a price of roughly $293 per square foot based on the $36.7 million sale price.
Property Profile: Terramonte at Foothill
Built in 1963 and renovated in stages between 2012 and 2023, Terramonte at Foothill sits on more than nine acres along Foothill Boulevard/State Route 66 in Pomona. The unit mix skews toward two-bedroom apartments, which account for 70% of the 138 units, with the remainder comprising studios and one- and three-bedroom apartments.
The property's amenity package includes two swimming pools, sundecks, a spa, a fitness center, a barbecue pavilion, a co-working space, and garages.
The location offers direct access to State Route 210 and is near Interstate 10. Residents also have access to the Montclair TransCenter, Pomona Transit Center, and Pomona-North Metrolink station, providing transit connections to employment centers in Los Angeles and throughout the Inland Empire. Several higher-education institutions surround the property, including California State Polytechnic University, Pomona; the University of La Verne; Western University of Health Sciences; and the Claremont Colleges.
Inland Empire Multifamily Market Context
The transaction reflects continued investor interest in workforce multifamily assets in the Inland Empire, a submarket that has benefited from logistics, warehousing, and back-office job growth. Pomona's position along major freeway and rail corridors makes it accessible to employment centers across both Los Angeles County and the broader Inland Empire, supporting demand from renters who require transportation options to dispersed job sites.
Elevated homeownership costs have continued to channel households toward rental housing in relatively more affordable nodes east of coastal Los Angeles, with Pomona representing one such affordability edge. The proximity to multiple universities and health sciences institutions also provides a diversified potential tenant base for a property of this scale.
The limited number of comparable large-scale trades in Pomona means the $265,942 per-unit figure will serve as a closely watched benchmark for mid-century, renovated Class B multifamily stock in the Eastern Los Angeles County and Inland Empire corridor. Nationally, transaction volume in commercial real estate has been recovering, with multifamily remaining among the sectors attracting renewed institutional capital as financing markets have stabilized.
About the Firms
Institutional Property Advisors is a division of Marcus & Millichap focused on serving institutional clients through investment sales, capital markets, and research services for large multifamily and commercial properties. Positive Investments served as the seller in the transaction. Sack Capital Partners is the acquiring entity.