Project Denotes Step Forward in Anthem’s Sacramento Expansion Strategy
Financing to the tune of $39 million in construction debt and $20 million in equity was recently arranged for a new 137-unit development in Sacramento on behalf of Anthem Properties Group of Canada. George Smith Partners’ Gary E. Mozer, principal/co-founder, along with members of his team in the Los Angeles office, sourced the debt and equity financing.
“When we visited the site while packaging the deal, we were very excited about the dynamic location of this property. This thriving neighborhood offers an amazing lifestyle, including restaurants, shops and walkability, which is a great value proposition for the tenants,” said Mozer.
The location is a three-minute walk to the 16th Street rail station and a two-minute walk to R Street.
The seven-story building will include six levels of 137 rental units, parking and 9,175 square feet 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 plus den apartments and 36 two-bedroom apartments. The retail will include space for seven tenants totaling 9,715 square feet.
“With this building, we are taking another important step forward in our ongoing strategy to expand our rental portfolio in the Sacramento region,” says Riaan de Beer, Anthem’s vice president of development.
The project is located at 1500 S St. in downtown Sacramento.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.