Dennis Lanterman Of River Cove Apartment Associates Acquires River Cove Apartments And Sierra Gardens Apartments For $21.5M

Two multifamily assets were sold in the Sacramento and Roseville markets. The first asset, River Cove Apartments, located at 6290 Fennwood Court in Sacramento, consists of 60 units and was sold for $11 million. The second asset, Sierra Gardens Apartments, located at 1645 Sierra Gardens Drive in Roseville, consists of 74 units and was sold for $10.5 million. In total, these properties consisted of 134 units with a combined sale price of $21,500,000, resulting in a per unit price of $160,448.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,500,000
• Buyer: Dennis Lanterman; River Cove Apartment Associates
• Seller: Irene Slisky; River Cove Apartments LLC
• Brokers: David DeLoney, Dusty Haeling, Tony DeLoney - The DeLoney Group - Marcus & Millichap; Spencer Moyer - Alive Commercial Real Estate; Summit Real Estate Services
• Units: 134

The River Cove Apartments deal was facilitated by brokers Tony DeLoney, David DeLoney, and Dusty Haeling representing both the seller, River Cove Apartments LLC, and the buyer, River Cove Apartment Associates. Meanwhile, Spencer Moyer represented the buyer in the Sierra Gardens Apartments deal, while Summit Real Estate Services represented the seller, Irene Slisky.