Oakmont Properties Acquires Multifamily In Citrus Heights For $120M

The multifamily property located at 6011 Shadow Ln. in Citrus Heights has been sold for a total of $120,000,000. The transaction took place on August 31, 2021. The property consists of 410 units, with an average price per unit of $292,682.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $120,000,000
• Address: 6011 Shadow Ln., Citrus Heights
• Market: Citrus Heights
• Buyer: Oakmont Properties
• Seller: Kennedy Wilson Fund VI
• Buyer's Representative: Andrew Behrens & Jesse Weber - CBRE
• Seller's Representative: Marc Ross - CBRE

The buyer of the property is Oakmont Properties, while the seller is Kennedy Wilson Fund VI. Andrew Behrens & Jesse Weber from CBRE represented Oakmont Properties in the deal, whereas Marc Ross from CBRE represented Kennedy Wilson Fund VI. The transaction marks a significant sale in the Citrus Heights market with 410 units changing hands.