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Ironwood at Empire Lakes

Rancho Cucamonga, CA


A Crow Holdings Capital fund acquired Ironwood at Empire Lakes, a Class A, 496-unit garden-style apartment community with below-market rents in Inland Empire, California, at a significant discount to replacement cost. Located in Rancho Cucamonga, California – the Inland Empire’s largest employment hub, which features an established infrastructure and a growth-oriented culture centered on industrial distribution centers and healthcare, Ironwood at Empire Lakes consists of 23 three-story buildings, two fitness centers, two clubhouses, and two resort-style pools.

For the real estate fund, the acquisition offered a value-add opportunity with potential upside through new management, interior and exterior renovations, and anticipated job growth in direct proximity to the property. The team implemented substantial enhancements to interior units, including stainless-steel appliances, cabinetry upgrades, wood-plank flooring throughout each unit, upgraded sink faucets and lighting fixtures, quartz countertops, and framed bathroom mirrors, as well as modernizing the fitness center, leasing area, and other common area amenities.

Furthermore, in 2020, the property received several energy efficiency upgrades, including a lighting retrofit in indoor and outdoor common areas, pool heater upgrade, pool and spa pump upgrades, and a pool and spa timer installation.

11100 Fourth St.
Rancho Cucamonga, CA 91730


“Do the right thing because it’s the right thing to do.” “ ”

- Trammell Crow