The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 24, 2022
 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?





MULTIFAMILY NEWS
Printer-friendly Version   Email an Associate
Oakmont Properties Pays $85.6 Mil for Newly Completed Sacramento Area Res Project

12/31/21

Oakmont Properties purchased Element 79, a 214-unit multifamily community in El Dorado Hills, CA, for $85.6 mil ($400k/unit). The property, located at 4373 Town Center Blvd, was just recently completed by AG Spanos, the seller in this transaction.

Element 79 is a newly constructed, Class A apartment community located in Sacramento’s high-end submarket of El Dorado Hills. The property offers residents an urban lifestyle within a suburban setting and is situated within Town Center, El Dorado Hills' premiere retail center. Element 79 has an extensive amenity package and elevated finishes.

Marc Ross with CBRE Multifamily Properties group brokered the transaction on behalf of the seller. Andrew Behrens, Jesse Weber and Stephen Baird with CBRE Debt & Structured Finance arranged financing on behalf of the buyer.

“The property experienced an outstanding lease-up performance, averaging 36 move-ins per month since July and was 94% leased at the time of sale,” noted Ross. “With projected rental growth of 15.8% by the end of 2021, bolstered by strong in-migration and other demand drivers, the Sacramento market continues to solidify its reputation as a highly desirable, recession-resistant market.”





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 © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media