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4/30/26
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Oakland-based ArtHaus Partners has acquired Creek at 2645, a 368-unit res community in Sacramento’s South Natomas neighborhood, for $76.5 mil ($208k/unit). Built in 1986, the property consists of 47 buildings across 17 acres at 2645 Stonecreek Drive, east of I-5 and just north of El Camino Ave.
Photo: www.thecreekat2645.com/Bridge Property Management |
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ArtHaus plans to convert the community into affordable housing that will restrict 314 of the 368 units to households earning 60-80% of the Area Median Income (AMI). The firm expects to use a $100 mil bond issuance from the city that will fund the property purchase and rehabilitation.
The asset was sold by Salt Lake City-based Bridge Investment Group, who bought the property in 2019 for $72 mil from Bascom Northwest Ventures. Previously, Bascom, in a partnership with Oaktree Capital Ventures, acquired the community from Oakmont Properties in 2016 for around $47 mil.
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