The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Sacramento Multifamily Asset Traded in $34 Mil Transaction

11/01/17

Waterford Cove, a 188-unit, garden-style apartment community in Sacramento, was purchased by Bridge Partners in a recent $33.8 mil ($180k/unit) transaction. The buyer assumed an existing low-leverage loan and added a supplemental loan as part of the acquisition.

The property is located at 7650 Windbridge Dr, in one of the closest, most affluent residential neighborhoods to Downtown Sacramento. It was 97% occupied at the time of sale.

Built in 1988, Waterford Cove features a highly desirable unit mix, fully comprised of spacious one- and two-bedroom floorplans. The property features an assortment of in-unit amenities including full-size washers and dryers, dishwashers, central heat and air, 9’ ceilings and patios/balconies in every unit.

Waterford Cove is poised to benefit tremendously from the enormous investment in regional amenities taking place in Sacramento’s urban core. The property is ideally located 10 minutes south of Downtown Sacramento with convenient access to Interstate 5 and within minutes of the region’s largest employment centers and growing retail amenities, including Delta Shores, the region’s newest retail power center.

Marc Ross of CBRE’s Sacramento office arranged the sale on behalf of the seller, Oakmont Properties. Ross pointed out that Bridge Partners has a tremendous opportunity to capitalize on the existing loss-to-lease as well as capture additional revenue upside through property renovations.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media