Chad Bungcayao Of Jackson Square Properties Acquires Multifamily Asset In Sacramento For $54.6M

The Falls at Arden is a 272-unit multifamily apartment complex located at 2345 Northrop Avenue in Sacramento's Arden-Arcade market. This property was acquired for $54.6 million, resulting in a price per unit of $200,735. The buyer intends to designate 40% of the units as affordable housing for residents whose earnings are up to 80% of the area median income, alongside plans for over $1 million in exterior renovations.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $54,600,000
• Buyer: Chad Bungcayao - Jackson Square Properties
• Seller: Demmon Partners
• Brokers: Marc Ross, Joe McNamara & Claire Holt - CBRE
• Mortgage Brokers: Ryan Greer & Trevor Breaux - CBRE
• Units: 272
• Price Per Unit: $200,735

Marc Ross, Joe McNamara, and Claire Holt from CBRE represented the brokerage in the transaction, facilitating the sale and financing arrangement. Ryan Greer and Trevor Breaux, also from CBRE, acted as the mortgage brokers for the acquisition, ensuring the financial support needed for the transaction was in place.