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June 24, 2024
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Anthem Properties Group Locks Up $59 Mil in Construction Money and Equity for Sacramento Res Development


Anthem Properties Group, out of Canada, has obtained $39 mil of construction debt and $20 mil of equity for a new 137-unit development in Sacramento. George Smith Partners arranged the loan and advised on the equity placement.

The project is located at 1500 S Street in Sacramento’s downtown. The location is a three-minute walk to the 16th Street Rail Station and a two-minute walk to R Street where there is dining, entertainment, and art.

The seven-story building will include six levels of 137 rental units, parking and 9.2k sf of ground-floor retail fronting both 15th and S Streets. The residential unit mix will contain 42 studio apartments, 31 one-bedroom apartments, 28 one-bedroom + den apartments and 36 two-bedroom apartments. The retail will include space for seven tenants totaling 9.7k sf sf.

Amenities offered will include a concierge service offering pet washing/walking, unit cleaning service, bike and car shares and more. Common area amenities will include a fitness center with an outdoor exercise area on a second-floor deck as well as an outdoor garden with seating.

A George Smith Partners team led by Gary E. Mozer sourced the debt and equity financing. According to Mozer, the property is located in a thriving neighborhood that offers an amazing lifestyle, including restaurants, shops and walkability.

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