Crown Capital Pays $62M for Sacramento Apartments
San Francisco-based Crown Capital has acquired Waterford Cove Apartments, a 188-unit, multifamily community in The Pocket neighborhood of Sacramento, CA. CBRE represented the seller, Walnut Creek-based Bridge Partners in the $62 million transaction.
Located at 7650 Windbridge Drive, Waterford Cove features one- and two-bedroom units averaging 864 square feet. The recently renovated residences include wood-style flooring, stainless steel appliances, fireplaces and private balconies or patios. Amenities include a large clubhouse, fitness center, swimming pool and outdoor lounge.
“Waterford Cove offers great financial upside through continuation of a proven renovation program,” said CBRE’s Marc Ross who arranged the deal. “Given its strong leasing history and affluent location just 10 minutes from Downtown, Waterford Cove will be a star performer for Crown Capital.”