The multifamily property located at 4141 Palm Avenue in Sacramento spans 33 acres and consists of 1,300 units. Lincoln Avenue Communities acquired the asset for $112.5 million, resulting in a price per unit of $86,538. The property, previously owned by Reliant Group, includes features such as pools, playgrounds, and a gym, with units reserved for low-income residents and renovations completed between 2007 and 2009.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $112,500,000
• Buyer: Jeremy Bronfman & Eli Bronfman - Lincoln Avenue Communities
• Seller: John Caskie Collet & Joseph L. Sherman - Reliant Group
• Market: Sacramento
• Units: 1,300
• Price Per Unit: $86,538

Jeremy Bronfman and Eli Bronfman represented Lincoln Avenue Communities in the acquisition, while John Caskie Collet and Joseph L. Sherman represented Reliant Group as the sellers. This transaction marks the highest property sale in the Sacramento metro area since 2022.