Updated Aug 27, 2026
George Smith Partners Secures $85.8M Construction Loan For Township 9 Multifamily Development In Sacramento's River District
Sacramento, California
$85,800,000
Units
372
Asset Type
MultiFamily
Closing
May 15, 2023
About this deal
AI
A construction loan amounting to $85,800,000 has been secured for a 372-unit multifamily development located in the Township 9 area of Sacramento’s River District. This project aims to address local housing needs and includes plans for additional office and retail spaces.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $85,800,000
- Units: 372
- Address: Township 9
- Market: Sacramento
- Landlord: 29th Street Capital - Rob Hedrick; Bridge Investment Group
- Brokers: Shahin Yazdi, Miles Musalman & Kyle Redmond - George Smith Partners
- Loan Type: Construction Loan
George Smith Partners (GSP) facilitated the construction financing for this development, which aims to not only fulfill housing demands but also to create job opportunities in the area.
On the Map
$85,800,000
MultiFamily
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Sacramento MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93