Intercontinental Real Estate Corp. Acquires Multifamily Property In Sacramento For $87.5M
40 Park City Court, Sacramento, CA, USA
$87,500,000
$344/SF
Building Size
253,984 SF
Asset Type
MultiFamily
Closing
Sep 9, 2021
AI
Intercontinental Real Estate Corp., led by Peter Palandjian, has acquired a multifamily property located at 40 Park City Ct. in Sacramento. The sale, which took place on September 9, 2021, involved 244 units.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Price: $87,500,000
- Units: 244
- Price Per Unit (PPU): $358,606
The seller of the property was Heitman LLC. The sale of this multifamily asset signifies an important transaction in the vibrant Sacramento market.
Note: No additional information was provided regarding financing or any other details related to the transaction.
Players
Sacramento MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93