Mark Wiese Of Pacific Housing Acquires 228-Unit Multifamily Property In West Sacramento For $50.65M

The property asset involved in the transaction is the 228-unit Savannah at Southport apartments located at 3401 Savannah Lane in West Sacramento, California. The multifamily property was sold for $50.65 million, equating to $222,149 per unit. It was constructed in 2004 and includes 118 affordable units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,650,000
• Number of Units: 228
• Price per Unit: $222,149
• Buyer: Mark Wiese - Pacific Housing
• Seller: Alliant Capital
• Loan Amount: $26,800,000

The key individuals involved in the deal include Mark Wiese, representing Pacific Housing as the buyer. Alliant Capital acted as the seller in this transaction. The nonprofit successfully secured financing to facilitate the acquisition of the property, which emphasizes its focus on affordable housing solutions.