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Klingbeil Capital sells Riverside, Calif., residential community for $53.5M

Klingbeil Capital Management Ltd. divested the Canyon Crest Views residential community in Riverside, Calif., for $53.5 million, Multi-Housing News reported.

The 178-unit property at 5253 El Cerrito Dr. was sold to an undisclosed buyer.

Berkadia represented the seller, according to the report.