160-Unit Laguna Creek Apartments in Sacramento Obtains $34MM Refinancing

Sacramento, Cushman & Wakefield, Elk Grove, American Capital Group, Laguna Creek Apartments, Hartford Investment Management Company

ELK GROVE, Calif., – April 14, 2022 –  Cushman & Wakefield announced the firm served as the exclusive advisor to American Capital Group in the $34 million refinancing of Laguna Creek Apartments, a 160-unit, garden multifamily community in Elk Grove (Sacramento County), California. The loan was provided by Hartford Investment Management Company (HIMCO).

A Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Dave Karson, Chris Moyer, and John Spreitzer represented American Capital Group in the transaction. 

“More than 97% occupied, Laguna Creek is an attractive and strategically located apartment community. American Capital Group is in the middle of a multimillion dollar capital improvement plan at the property that will elevate the property even further,” said Vice Chairman and Head of Cushman & Wakefield’s EDSF team in the Pacific Northwest, Dave Karson.

 “Fueled by population in-migration, particularly from the nearby San Francisco Bay Area, multifamily property in the Sacramento region remains a very desired asset class. Fundamentals are anticipated to remain strong in this market,” said Senior Managing Director Christopher Moyer.

Located at 8760 Center Pkwy and built in 2004 by American Capital Group, Laguna Creek consists of a total of 160 one- and two-bedroom apartment units across two- and three-story garden-style buildings. The spacious units feature fully equipped kitchen, stylish kitchens with modern design and appliances, in-home washer and dryer, air conditioning, and pre-wired for high-speed internet. Select units also have private access garages.

On-site amenities include a clubhouse with fireplace and large screen TV, a state-of-the-art fitness center, swimming pool and spa, playground, a billiards and game room, and a built-in business center. There is also an electronic gated entrance to the community.

The location is nearby several amenities including multiple shopping centers and the Elk Grove Regional Park featuring a variety of outdoor activities and entertainment. The property also offers quick access to State Route 99 and proximity to Interstate 5, two major north-south freeways.

About Cushman & Wakefield 
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services.

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