Robert O'Leary And Armen Panossian Acquire Multifamily Property In West Sacramento For $126M

The Strand multifamily property located at 500 Douglas Street in West Sacramento was sold for $126 million. The 408-unit complex was built in 2021 and includes amenities such as pools, fitness centers, and charging stations.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $126,000,000
• Units: 408
• Price Per Unit: $308,824
• Buyer: Robert O'Leary & Armen Panossian - Oaktree Capital Management & The Bascom Group
• Brokers: Jason Parr & Scott MacDonald - Berkadia
• Mortgage Brokers: Clay Akiwenze, Hank Workman & Louis Friedel - Berkadia
• Lender: Luke Goodwin & Alex Porter - Walton Street Capital

This transaction involved The Bascom Group collaborating with Oaktree Capital Management to acquire the property. Berkadia arranged the debt financing, highlighting their role in facilitating the financial aspects of this deal.