Demmon Partners Acquires 275-Unit Multifamily Property In Sacramento For $106 Million

The property involved in this transaction is a multifamily asset located at 3111 S Street in Sacramento. The property contains 275 units and was sold for $106 million, leading to a price per unit of $385,455. This acquisition represents a significant increase in value, being approximately 50% above its 2013 sale price.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $106,000,000
• Units: 275
• Price Per Unit: $385,455
• Buyer: Terry Demmon, Charlie Demmon & Thomas Walsh - Demmon Partners
• Seller: Jonathan Martin - AEW Capital Management
• Broker: Institutional Property Advisors

The deal highlights key individuals in the transaction, including the Demmon Partners, who aim to enhance the property by focusing on interior renovations and common-area upgrades while maintaining its status as a high-quality apartment community. Jonathan Martin represented AEW Capital Management in the sale.