CBRE Arranges $15.5MM Sale of Sierra Village In North Highlands, CA

CBRE, Sierra Village, North Highlands, Sacramento

CBRE, Sierra Village, North Highlands, Sacramento

Sacramento, CA – September 21, 2016 – CBRE announced it has arranged the sale of Sierra Village, a 185-unit, Class B apartment community located in the North Highlands submarket of Sacramento, California, for $15.5 million.

Marc Ross of CBRE’s Sacramento office represented both the buyer, Oracle Properties Development, and the seller, Trion Properties, in the sale.

“Sierra Village has undergone considerable exterior and interior renovations over the past couple of years” said Mr. Ross, Senior Vice President of CBRE Capital Markets, Multifamily. “With its convenient location just off of I-80, between Downtown Sacramento and Roseville, Sierra Village is poised for continued success in a region that is thriving with rising employment, increasing population, continued rent growth, and limited new multifamily supply.”

Located at 5416 Jackson Street, the two-story, garden-style complex was built in 1986 and features 20 buildings on 9.27 acres. Sierra Village offers many amenities, including on-site leasing office, covered parking, patios and balconies, fitness center, two swimming pools, two spas, community gating, a tennis court, and laundry machines in each building.

Sacramento is ranked first nationally by Axiometrics for annual effective apartment rent growth, experiencing 11.6 percent rent growth year-over-year as of August 2016.

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 2015 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.

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