CBRE Marketing Four-Property Multifamily Portfolio in Sacramento, CA
CBRE proudly announces the offering of a four-property, 1,108-unit multifamily portfolio located in Sacramento, California, on behalf of Oakmont Properties.
The Sacramento Value-Add Portfolio is believed to be the largest multifamily portfolio offering ever marketed in Sacramento. These Class B properties were constructed in the mid-to-late1980s and are all situated in strong infill locations.
The properties are being offered individually or together and include:
- Gold Ridge Apartments, located at 2929 Routier Road; 268 units
- Oak Pointe Apartments, located at 2450 Seamist Drive; 216 units
- Stone Creek Apartments, located at 2645 Stonecreek Drive; 368 units
- Sunflorin Village Apartments, located at 8550 Florin Road; 256 units
The portfolio is being marketed by Marc Ross and Will Blucher of the CBRE Sacramento Multifamily Team.
“Very few units in the portfolio have received upgrades in the last several years, providing new ownership the opportunity to increase rental income through strategic interior and exterior community renovations,” said Mr. Ross, Senior Vice President, Multifamily, CBRE Capital Markets. “The strong infill locations within one of the top rental markets in the U.S. make this an incredible opportunity for investors to strategically acquire select assets or gain tremendous scale for those looking to enter or significantly expand within the Sacramento market.”
The Sacramento region is home to more than 2.4 million people. Sacramento was recently ranked fourth nationally for year-over-year effective apartment rent growth by Yardi Matrix and fifth in the western U.S. for projected rent growth over the next five years by CBRE Econometric Advisors.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.