Step Up Housing Acquires 260-Unit Bay Village Apartments In Vallejo For $57M With Financing From Sack Capital Partners And Align Finance Partners

The property involved in this transaction is the Bay Village Apartments, a multifamily asset located at 107 Porter Street in Vallejo. The property comprises 260 units situated on approximately 18.63 acres, and it sold for $57 million, which equates to a price per unit of $219,231.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $57,000,000
• Units: 260
• PPU: $219,231
• Address: 107 Porter Street
• Market: Vallejo
• Lender: Jeff Smith - Sack Capital Partners; Align Finance Partners
• Broker: Institutional Property Advisors

The transaction was facilitated by Step Up Housing as the buyer. Sack Capital Partners and Align Finance Partners arranged the financing, while Sack Capital Partners will also handle asset and property management moving forward. Institutional Property Advisors represented the seller in this transaction.