Multifamily investment sponsor and private equity real estate firm Trion Properties has acquired Courtyard at Artisan Square, a 104-unit, multifamily community in Sacramento, CA. The property was secured through a debt assumption transaction with a private seller for $23.6 million.

The property is located within the fast-growing Arden-Arcade submarket where Trion currently owns two other properties. Courtyard at Artisan Square consists of one-, two- and three-bedroom units averaging 830 square feet across 11 two-story buildings. Community amenities include a fitness center, pool deck and high-end upgrades throughout the complex.

“Our team was able to identify the opportunity to secure positive leverage on this well-maintained property with a fixed-rate debt,” said Trion Managing Partner Max Sharkansky. “As prices gradually fall post rate shock and the markets tighten, we were able to assume the current Freddie Mac loan at 4.19%. These terms are difficult to achieve in today’s rising interest rate environment.”