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California  + Apartments  | 

Sacramento Apartments with Strong Track Record Fetch $55M

CBRE facilitated the $54.6-million sale of The Falls at Arden, a 272-unit multifamily community located at 2345 Northrop Ave. in Sacramento. The property was acquired by locally based Jackson Square Properties.

Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller, Demmon Partners, a family-owned real estate investment, management and development firm based in Sacramento. Ryan Greer and Trevor Breaux with CBRE’s Capital Markets Debt & Structured Finance team arranged acquisition financing on behalf of the buyer.

Built in 1986, The Falls at Arden offers studio, one- and two-bedroom floorplans averaging 679 square feet. During its ownership Demmon Partners, vastly improved the amenity package on site and completed laundry installations in nearly every apartment. The property was 97% leased at the time of sale.

“The Falls at Arden has consistently demonstrated strong operational performance and low vacancy, which we anticipate will translate to significant success for the new ownership,” said Ross.

Photo credit: Digital Sky Photography.

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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).

  • ◦Sale/Acquisition
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