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Bascom, Oaktree Partner on $126M West Sacramento Acquisition
The Bascom Group, LLC, in partnership with funds managed by Oaktree Capital Management, L.P., has acquired The Strand, a 408-unit newly built institutional quality multifamily community located in West Sacramento. The purchase price was $126,000,000 or $308,824 per unit.
Louis Friedel, Clay Akiwenzie, and Hank Workman of Berkadia arranged the debt financing for the acquisition. Luke Goodwin and Alex Porter of Walton Street Capital, LLC provided the acquisition loan. The seller was represented by Berkadia’s investment sales team led by Jason Parr and Scott MacDonald. Sares Regis will provide property management services.
“The acquisition of The Strand is an excellent opportunity to acquire a new construction, low density multifamily asset in a durable market with limited future supply and recent major institutional investment at an attractive in-place yield,” said Jim Singleton, SVP/principal – acquisitions at Bascom. “Bascom plans to utilize third-party professional property management and complete minor upgrades.”
- ◦Sale/Acquisition




