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Dean Weidner Acquires Multifamily Property In Sacramento For $77M

Property Image
SOLD
$77,000,000
Ryan Greer
Trevor Breaux
+ 3

California

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MultiFamily
Sold 06/07/2024
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Property Image
SOLD

Dean Weidner Acquires Multifamily Property In Sacramento For $77M

8282 Calvine Road

See Similar Deals
MultiFamily
Sold 06/07/2024
Ryan Greer
Trevor Breaux
+ 3
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Artisan, a 264-unit multifamily property located at 8282 Calvine Road in Sacramento, was sold for $77,000,000. The property was acquired by Weidner Apartment Homes from sellers Mark Carter of Sequoia Equities and Ken Coit of Coit Financial. The sale was facilitated by CBRE, with brokers Hasina Ahmadi and Marc Ross representing the sellers and also arranging financing for the buyer.

Summary of transaction details:

The mortgage for the transaction was brokered by CJ Connolly, Ryan Greer, Trevor Breaux, and Troy Tegeler from CBRE. This significant deal involved key individuals such as Dean Weidner as the buyer representing Weidner Apartment Homes and Mark Carter and Ken Coit as the sellers from Sequoia Equities and Coit Financial, respectively.

Players

Marc Ross
13 deals$828.9M volume(916) 446-8785
BROKER

Ryan Greer
CBRE
9 deals$664.5M volume(714) 322-0633
BROKER

Trevor Breaux
CBRE
9 deals$547.1M volume(949) 293-7320
BROKER

Troy Tegeler
CBRE
7 deals$440.2M volume(714) 307-2234
BROKER

Hasina Ahmadi
CBRE
1 deal$77M volume(916) 492-6936
BROKER

CJ Connolly
CBRE
2 deals$120.5M volume
BROKER

Details

SOLD
IMAGE: Ryan Greer, Trevor Breaux, CJ Connolly, Hasina Ahmadi, Dean Weidner, Marc Ross, Ken Coit & Troy Tegeler DATE: 06/07/2024 ADDRESS: 8282 Calvine Road MARKET: Sacramento ASSET TYPE: Multifamily BUYER: Dean Weidner - Weidner Apartment Homes (@WeidnerApartmentHomes) SELLER: Mark Carter - Sequoia Equities (@ElevatetoSequoia); Ken Coit - Coit Financial BROKERS: Hasina Ahmadi & Marc Ross - CBRE (@CBRE) MORTGAGE BROKERS: CJ Connolly, Ryan Greer, Trevor Breaux & Troy Tegeler - CBRE SALE PRICE: $77,000,000 UNITS: 264 ~ PPU: $291,667 NOTE: CBRE brokered the $77 million sale of The Artisan, a 264-unit apartment community in Elk Grove, to Weidner Apartment Homes. CBRE's Marc Ross and Hasina Ahmadi represented the sellers, Sequoia Equities and Coit Financial, while their team also arranged financing for the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$273,564.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$365,019.28
Annual Debt Service$4,380,231.40