Overview
Eric Chen, Blake Torgerson, Jessica Khoury, Joyce Goldstein, Jenifer Téa Pham, Bryan Guerrero, and Dalyce Kelley are one of the region’s premier investment sales teams, representing clients in transactions of multifamily properties and land for development in the Los Angeles County and Inland Empire regions.
The team -- which represents a variety of clients including high net worth individuals, syndications, hedge funds, family trusts, private equity firms and oversea investors from Asia -- combines multi-lingual expertise (Mandarin/Chinese), unmatched market insight and strategic advice to help clients achieve the highest possible return on their investments. Since 2003, Eric and team have completed over $4 billion in sales and finance, over 450+ sale transactions and has between 30%-40% market shares in many cities within Los Angeles and Inland Empire markets.
Under Mr. Chen’s leadership, the team harnesses both CBRE’s proprietary “360 database” of 150,000+ investors worldwide, as well as their own personal catalogue of 45,000 contacts throughout Southern California. Through access to this extensive network, their deep client relationships and the ability to leverage CBRE’s vast expertise across specialties, including CBRE Debt & Structured Finance, CBRE Valuations & Appraisal and CBRE Research, the team consistently surpasses expectations by offering personalized solutions coupled with the prowess of the world’s largest commercial real estate services firm.
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1031 Exchange
Our team specializes in 1031 exchanges. Whether you are in an exchange or interested in exchanging your property, contact us to learn more.
Our Team
Eric Chen
Senior Vice President
Capital Markets, Multifamily
Lic. 01489184
Blake Torgerson
Vice President
Capital Markets, Multifamily
Lic. 01919955
Jessica Khoury
Client Services Specialist
Capital Markets, Multifamily
Lic. 02014558
Ryan Wilkinson
Senior Vice President
Debt & Structured Finance
Lic. 01367594
Joyce Goldstein
Vice President
Capital Markets, Multifamily
Lic. 1903737
Jenifer Téa Pham
Associate
Capital Markets, Multifamily
Lic. 01955622
Bryan Guerrero
Financial Analyst
Lic: 02051095
Dalyce Kelley
Creative Marketing, Client Services Coordinator
Capital Markets, Multifamily
Live Webinar Links
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CBRE’S ERIC CHEN & TEAM PRESENT:
Panel Discussion on Inland Empire & San Gabriel Valley Apartment Markets
Thank you to our clients, friends and colleagues who listened to the June 30th Presentation: Panel Discussion on Inland Empire & San Gabriel Valley Apartment Markets. CBRE’s Eric Chen and Blake Torgerson provided a “forward looking” panel discussion on the reopening of our economy and the impact on the Inland Empire and San Gabriel Valley Apartment Markets.
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CBRE’S ERIC CHEN & TEAM PRESENT:
COVID-19 Impact on the Inland Empire & Greater Los Angeles Markets
In the April 22nd Presentation: COVID-19 Impact on the Inland Empire and Greater Los Angeles Apartment Market. CBRE’s Eric Chen, Blake Torgerson and Ryan Wilkinson gave their local perspective into how COVID-19 is impacting landlords and tenants, the lending environment, buyers and sellers within the Inland Empire and Greater Los Angeles regions.
Read on to learn how Eric Chen uses his success as Senior Vice President of Multifamily Investment Sales to further advance talent at CBRE.
CBRE Talent Through Diversity and Inclusion
Notable Closed Transactions
1211 E. Badillo St. | West Covina
Land Development | Q1 2022 | $58,450,000
840 S Magnolia Avenue | Ontario, CA
Multifamily| Q4 2021 | $28,000,000
301 Ocean Avenue | Santa Monica, CA
Multifamily| Q4 2021 | $70,000,000
57 Wheeler Avenue | Arcadia, CA
Multifamily| Q4 2021 | $39,200,000
The Azusan Apartments | Azusa, CA
Multifamily | Q3 2020 | $9,700,000
817 Padilla Street | San Gabriel, CA
Multifamily | Q2 2020 | $5,075,000
25356 Cole Street | Loma Linda, CA
Multifamily | Q2 2020 | $6,300,000
11149 Barnwall Street | Norwalk, CA
Multifamily | Q1 2020 | $3,825,000
Palm Place Apartments | Riverside, CA
Multifamily | Q1 2020 | $3,288,000
4561 Palm Avenue | Riverside, CA
Multifamily | Q1 2020 | $1,700,000
Bevia Apartments | Moreno Valley, CA
Multifamily | Q1 2020 | $6,650,000
The Atrium Apartments | El Monte, CA
Multifamily | Q4 2019 | $9,700,000
Wood Ridge Villas | San Bernardino, CA
Multifamily | Q4 2019 | $6,100,000
Mountain View Apartments | San Bernardino, CA
Multifamily | Q3 2019 | $7,725,000
3628 Madison St | Riverside, CA
Multifamily | Q2 2019 | $2,450,000
Lina Pasadena | Pasadena, CA
Multifamily | Q2 2019 | $2,720,000
Former Museum of California Art Building | Pasadena, CA
Retail | Q2 2019 | $7,600,000
Orangeville Senior Living | Riverside, CA
Multifamily | Q1 2019 | $4,430,000
Kimberly Apartments | Baldwin Park, CA
Multifamily | Q4 2018 | $6,260,000
2000 W. Pacific Avenue | West Covina, CA
Multifamily | Q4 2017 | $18,800,000
2032 & 2052 W. Linden Street | Riverside, CA
Multifamily | Q4 2017 | $8,100,000
311 S. Sunrise Way | Palm Springs, CA
Multifamily | Q3 2017 | $20,500,000
Arcadia Portfolio | Arcadia, CA
Multifamily | Q3 2017 | $10,000,000
Yucaipa Portfolio | Yucaipa, CA
Multifamily | Q3 2017 | $5,740,000
4205 Evart Street | Montclair, CA
Multifamily | Q3 2017 | $8,850,000
36491 Yamas Drive | Wildomar, CA
Multifamily | Q1 2017 | $74,500,000
3535 Banbury Drive | Riverside, CA
Multifamily | Q4 2016 | $18,865,000
2575 Steele Road | San Bernardino, CA
Multifamily | Q4 2015 | $6,856,000
1605 S. Mountain Avenue | Ontario, CA
Multifamily | Q2 2015 | $10,400,000
Client Testimonials
“You are one of the best in the business and thank you for doing such a great job on this sale for us. You and your team are true professionals. We look forward to working together more with you in the future.”
John Drachman,
Co-founder of Waterford Property Company
"Eric, Blake and their team went above and beyond in listing the sale of our property in Murrieta. We have had the pleasure of working with Eric and Blake on multiple transactions over the years on both purchases and sales and have always had a great experience. They are experts of the multifamily markets they work on and are very thorough on their handling of all aspects of the transaction. We hope to work more with them in the future and highly recommend them."
Srinivas Yalamanchili,
Positive Investments
"Eric Chen and his team found a great investment property in Riverside County for me. They were able to convince the seller to extend the escrow period to over six months during the pandemic, which is the longest escrow I have ever had. After close of escrow, his team assisted me with more information to achieve a smooth ownership transfer."
Eddie Z,
EZ Investment, Inc.
“We’ve worked with Eric and his team for sometimes now but this is our first 1031 exchange. They were very patient and professional from the start. They won’t push you to sell your property unless they believe it is the best time to do so. Their excellent negotiation skill help got us better than expected sell price and found us a perfect exchange property with more upside.”
Wayne Lin, CEO
REF Investment, LLC
“Eric and team represented us as buyers and they were instrumental in sourcing and closing our transaction. Their coordination efforts with the seller and attention to detail during due diligence were highly valuable throughout the process. The team’s experience and professionalism were evident and we look forward to working with them again on future opportunities.”
Michael Barker, CEO and Managing Director
Barker Pacific Group
“I recently completed the sale of a multi-tenant property with the help of Eric Chen and his team at CBRE, Investment Properties/Multifamily. I could not have been more pleased with the ease of the transaction and their professionalism. Eric Chen met with me personally and walked me through the expectations of the transaction. After meeting with Eric, I fully understood the market pro's and con's before deciding to list my property. Once the property was listed, Eric and his team marketed the property aggressively, setting up a visitation date with multiple buyers. We closed within 30 days on a full cash offer at our asking price. If you are a seller or buyer of Multi-Family Properties in Southern California, I would highly encourage you to utilize the expertise of Eric Chen and his team at CBRE. You will not be disappointed!”
Chris MacArthur, Trustee
MacArthur Family Trust
“Eric Chen and his team at CBRE provided a very high level of service. With the utmost professionalism, he quickly found a qualified buyer for our apt complex and helped close the transaction as promised. We would not hesitate to use Eric and his team again.”
Chris Kwasizur, CFO
Operon Group
"Eric is a highly motivated individual that I have closed several exchanges with in the last 12 months. His work ethic is second to none. He is quickly becoming one of the largest producing agents in his market. If you are selling an investment property in the San Gabriel Valley he should be at the top of your list."
Greg Burns, Senior Vice President
Investment Property Exchange Service, Inc.
“We were very pleased that you were able to get the price that we were hoping for when other brokers told us that they felt we might be reaching for a price that was unachievable. Your lending connections made the financing process flow smoothly and you’re getting the appraiser comfortable with the value even when there were very few comparables available. Your positive attitude as well as your professionalism has been greatly appreciated. Your attention to detail and follow through made this extremely easy on our end."
Dean Washle, Managing Director
Newmark Grubb Knight Frank
“Eric is amazing. He stepped in to handle the marketing and sale of an apartment building in Covina that was the subject of litigation. He was able to handle the opposing parties who co-owned the property with grace and patience. He sold the property quickly and at a great price. His professionalism is beyond compare. I highly recommend him.”
Tom P. Davis, Principal
Davis Law
“We encountered several unforeseen issues during the closing process, which normally would have jeopardized the entire transaction. However, even under pressure, Eric manifested exceptional professionalism, problem solving skills, tenacity, and most importantly, strong sense of responsibility to serve his client that enabled us to successfully close the deal in the end. He is a first rate real estate agent, and as his client and his friend, I enthusiastically recommend his services to anyone.”
Yuseke Takahashi, Previous Managing Partner
Goldman Sachs
"My wife and I have known Eric for many years. He has guided us through multiple transactions, both as sellers and buyers. We have found him to be scrupulously honest, patient, always accessible, cheerful and very smart. He even follows our progress after we’ve made a purchase! I have interacted with dozens of realtors over the years but to say Eric is one in a million is an understatement."
Phil Reeves, Manager
Barton Summit LLC
“Their team quickly identified the most appropriate buyer and managed the transaction to a timely and successful closing. The team demonstrated professionalism throughout the process from initial property analysis and presentation through execution of the sale. Their transparent communication style also made the process easy for CT and its partners."
J. C. “Watty” Watson, Chief Executive Officer
CT Realty
“Thank you for assisting us for this sale. The handling of this sale from marketing to closing, seamless! You will be the go to person for our real estate needs in the future. Thanks again for your help. It’s professional all the way!”
Herbert and Shirley Chan, Private Investors
“Your team's service is the best I ever had in all of my real estate transactions. This is a clear indication of what kind of a leader Eric Chen is, outstanding."
Santigual Filemon, Private Investor
"We approached Eric Chen to assist us in selling an asset located in a tertiary market after working with 3 other retail specialist brokers that had failed to achieve the price that our investors required. Eric and his team quickly put together a detailed, targeted, strategic plan that leveraged their deep client base and experience in handling CMBS loan assumptions to deliver the price we needed in a short amount of time. His team was extremely knowledgeable and thorough. Bottom line: Eric and his team deliver results and I would not hesitate to use them again for future deals."
David N Fong, Esquire
Red Bridge Capital
"We are very pleased to have closed escrow on a sale with Eric and want to thank you for effectively marketing the property and managing the transaction from start to finish. We appreciate your high level of professionalism and personal service with this deal and are looking forward to the next one."
David Jankowski & Mark Chalfin,
Revere Investments
"On behalf of all owners and employees of Fairview Ventures, I would like to extend my appreciation to a job well done with the acquisition of our multifamily investment. CBRE’s service during the transaction was excellent and we appreciate your communications, planning, and strong integrity in handling all aspects of the deal."
Jason Mak, President
Fairview Ventures
"I highly recommend Eric Chen and his team at CBRE to anyone looking to buy or sell multifamily housing. I just closed my 3rd transaction with Eric and team, and I am confident that there will be many, many more to come. Eric’s team is highly knowledgeable, very organized, and incredibly responsive. They guided me through my first deal with ease and were able to explain and solve any and all issues that came up along the way. His team is very proactive about giving updates and making sure that the entire process is transparent and smooth. I have enjoyed working with the team and look forward to working with them even more in the future."
Grant Lin, Managing Director
NLZ Capital, LLC
"Your strategy for selling the apartments was excellent and I can’t say enough about how I appreciated your expertise with commercial real estate and understanding the buyers for that market. An all cash sale with no contingencies and a quick close at 10k over list – we couldn’t have asked for more! I will definitely recommend you to others. All the best to you!”
Greg L., Trustee
Lindsey Trust
"Eric Chen & Joyce Goldstein of CBRE did a phenomenal job helping my family sell two apartment buildings that we had held in partnership with another family for nearly forty years. They were able to recommend smart repairs and upgrades, carefully analyze rent rolls in order to maximize value, and aggressively market the buildings to a very large potential base of buyers. The process was not at all simple and the team overcame multiple complex challenges which ultimately resulted in two successful sales that closed quickly for amounts well within our targeted goal range. I recommend them both without hesitation and I would welcome the chance to work with them again on either the buyer or seller side of a future transaction."
J. Lindsey, Trustee
Lindsey Family Trust
"We enjoyed working with Eric and his team! They were helpful before we retained them and were transparent in their strategy, willing to try things they hadn’t before, communicate things timely, and identify qualified buyers for us. The entire sale process was one of the more seamless ones we have encountered, thanks to their dedication!"
J.K. Residential Services, Inc., CEO
"Eric Chen and his team are professional, friendly, and courteous which is rare to find especially in this industry. He absolutely streamlined the whole selling process while taking the time to be compassionate and understanding about my personal struggles in life. He has the knowledge, patience, and determination to tackle all aspects of commercial real estate. Eric is truly awesome and I wish I had met him a long time ago. I look forward to working with Eric and his team again in the future. I would highly recommend Eric Chen to any investors whom are interested in buying or selling commercial real estate."
Tim Lam, Private Investor
“I would like to express my gratitude to Eric Chen and his team in handling the sale of the Palm Property. I was very pleased with his professionalism, his personal contact and his overall performance. Many thanks to Eric and his team for a most positive experience.”
Gerri Davidson, Trustee of the Geraldine Davidson Family Trust
“As always, we were pleased with the work of the Eric Chen Team at CBRE on the purchase of 1147 W Linden Riverside, CA. They went the extra mile to get us this property after tracking the building for over 3 years. The transaction was smooth from start to finish with very little complications. Thanks again for another great investment for the Wetton Investment Properties Team! Look forward to our next venture together.”
Doug Wetton, Doug Wetton Properties
"We want to express our deep appreciation to you and your company for helping us all the way to the finish line! You may or may not know this, but it has been an awful trip for us, with many surprises and nonsense way before reaching a settlement among the partners. We were very lucky when you were chosen to sell the property for us, you are so efficient and effective in getting our property sold in no time, and even go out of your way helping us to make the escrow company do their job. We are so grateful for you kindness and competence! BTW, Thank you for referring Matt Langenbach to us, he is so wonderful as well. Now that the dust is settled, I just want to let you know we know and appreciate everything you did for us. I know you will continue do well! Best wishes!!"
Yih-Ing & Chih-Ping, Private Investors
“Eric, You did a first-class job on that transaction that I doubt any other realtor could/would have done. Congratulations to you. I want to thank you for introducing me to all of our clients. I am absolutely honored to have met and worked for such straight-shooting, honorable people.”
Matt Langenbach, Law Office of Matthew J. Langenbach
"Our team at CBRE - Joyce Goldstein and Eric Chen - were total rock stars in the sale of our residential building in Pasadena. Their strategic counsel was instrumental in closing a lucrative off-market transaction at the aggressive price we wanted. This was by no means a simple transaction and Joyce and I were on the phone daily. CBRE helped us navigate through a complex ownership structure comprised of a 40 year-old partnership that began with two families and through succeeding heirs and trusts ultimately grew to 6 different stakeholders. Beyond their own plentiful skills, the team recommended service providers that were perfectly matched to our challenging situation and got us through escrow and title and everything else with nary a headache. I can not imagine going through another commercial transaction without Joyce and Eric and recommend them fully and without reservation."
Steve Feldstein, Private Investor
Case Studies
Kimberly Apartments
Baldwin Park, CA
Deep market knowledge and end-to-end execution deliver certainty of performance and drive big returns for both buyer and seller
Baldwin Park, CA
Explore
Multifamily
CBRE Multifamily combines investment sales, financing and investment banking services providing multifamily clients access to the most experienced and highly specialized professionals in every market throughout the U.S. and the globe.
Freddie Mac Small Balance Loans
The CBRE Freddie Mac Multifamily Small Balance Loans Program (SBL) is a dedicated platform within CBRE Capital Markets that originates, underwrites, closes and services multifamily loans, ranging from $1 - $7.5 million.
Capital Markets
Combining investment sales, advisory, financing and investment banking into a single, fully integrated global service offering for all property types.
Valuation & Advisory Services
CBRE provides comprehensive valuation, advisory and consulting services for real estate owners, investors and lenders, combining our specialized expertise and premier technologies to deliver industry-leading valuation reports and analysis.
Press Releases
CBRE Announces Sale of 75-Unit Apartment Community in Inland Empire to Overseas Private Investor for $28 Million
December 10, 2021
CBRE announced the sale of Hallmark at Mission, a 75-unit multifamily community in Ontario, Calif., to a private foreign investor for $28 million.
December 10, 2021
CBRE Announces Sale of Baranger Studios Building in South Pasadena, Calif. to Local Investor for $6.8 Million
November 22, 2021
CBRE announced that Baranger Studios, a historic office property in South Pasadena, Calif., sold to a local investor for $6.8 million.
November 22, 2021
CBRE Announces Sale of New Mixed-Use Residential and Retail Project in Arcadia, Calif. to Overseas Investor for $39.2 Million
November 9, 2021
CBRE announced the sale of a mixed-use residential and retail property in Arcadia, Calif. to a private investor from Taiwan for $39.2 million in cash.
November 9, 2021
Research
Tight Vacancy Bodes Well for Small Multifamily Assets
Small multifamily assets—those with 50 units or less—are enjoying favorable market conditions. Recent and historical vacancy figures provide quantitative evidence of their investment potential.
Transaction Trends in Small Multifamily Assets
A high percentage of U.S. multifamily inventory is in small properties, and a significant percentage of multifamily renters live in these properties. Find out why investment in and financing of smaller assets is very active, particularly multifamily.
The Case for Workforce Housing | A Market Perspective
Workforce housing has outperformed the overall multifamily market in recent years with relatively low vacancy rates and above-average rent growth. Does investment in workforce housing still make sense? Explore property market fundamentals of workforce housing, supply and demand trends and which metro markets are outperforming national trends.