NY Investor Snags First Folsom Apartments on Market in Four Years

CBRE arranged the sale of Talavera, a 293-unit apartment community in Folsom, to New York-based Sentinel Real Estate. Talavera was the first asset to become available in the Folsom submarket in four years. CBRE’s Marc Ross, Eli Hanacek, Joe McNamara and Claire Holt represented the sellers, USA Properties & Strand Financial. Pricing was not disclosed.

“Talavera is the most compelling institutional multifamily opportunity to emerge in the Sacramento region in 20+ years, anchored by its coveted position in the Folsom submarket,” said Ross. “Top of the market demographics and schools, strong employment growth, high barriers to new construction, and exceptional location fundamentals have sustained deep investor demand, and Talavera is exceptionally well-positioned to capitalize on all of them.”

Located at 1550 Broadstone Pkwy, the four-building community was built in 2020. Talavera is Folsom’s only elevator-served multifamily property. The property was 96% occupied at the time of sale.

Where the apartment industry connects. Meet the owners, investors, developers, lenders, brokers, and service providers driving today’s multifamily market at Connect Apartments. Build relationships, uncover opportunities, and stay ahead of what’s next.

Inside The Story

CBRE's Ross

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints