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500 Douglas Street

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

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

500 Douglas Street

$126,000,000

Building Size

Asset Type

MultiFamily

Closing

Jan 27, 2025

AI

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:

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.

Players

Jason Parr

Berkadia

Broker

$699M

vol

12 deals

Broker
Walton Street Capital
Walton Street CapitalLender

West 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

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93