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Jackson Square Properties Acquires 188-Unit Multifamily Asset In Sacramento For $52.3M
SOLD
$52,300,000
+ 1
California
See Similar DealsMultiFamily
Sold 01/16/2025
SOLD
Jackson Square Properties Acquires 188-Unit Multifamily Asset In Sacramento For $52.3M
3351 Duckhorn Drive
See Similar DealsMultiFamily
Sold 01/16/2025
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The Lofts, a 188-unit apartment complex located at 3351 Duckhorn Drive in Sacramento, was sold for $52.3 million. This multifamily asset is situated in the Natomas submarket and has a price per unit of $278,191.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $52,300,000
- Buyer: Jackson Square Properties
- Seller: Joseph L. Sherman - Reliant Group
- Broker: Marc Ross - CBRE
- Mortgage Brokers: Ryan Greer & Trevor Breaux - CBRE
- Units: 188
- PPU: $278,191
Marc Ross of CBRE represented Joseph L. Sherman of Reliant Group in the sale. Meanwhile, Ryan Greer and Trevor Breaux from CBRE arranged financing for Jackson Square Properties, facilitating the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,789,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$185,810.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$247,928.68
Annual Debt Service$2,975,144.19
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