Montgomery Partners has purchased the 74-unit Nueva Vista Apartments in Santa Rosa for $14.25 million. The multifamily property, located at 1333 West Steele Lane, spans over 2.43 acres. The acquisition was made with the intent of improving occupancy and rebranding it as The Palms at Coddingtown. Montgomery Partners plans to invest $2.5 million in renovations to enhance the property's appeal.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $14,250,000
• Units: 74
• Price per Unit: $192,567
• Address: 1333 West Steele Lane
• Market: Santa Rosa
• Acres: 2.43

Braden Badger, representing Montgomery Partners, played a pivotal role in the deal as the buyer's representative. The purchase of the Nueva Vista Apartments showcases Montgomery Partners' commitment to investing in the Santa Rosa market and taking strategic measures to maximize the property's potential. Upon completion of the renovations, The Palms at Coddingtown aims to offer an improved living experience to its residents.