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Bob Faith Of Greystar Acquires Multifamily Asset From Ward Fitzgerald Of EQT Exeter For $42.8M

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SOLD
$42,800,000

California

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MultiFamily
Sold 05/28/2025
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Property Image
SOLD

Bob Faith Of Greystar Acquires Multifamily Asset From Ward Fitzgerald Of EQT Exeter For $42.8M

850 Sacramento Avenue

See Similar Deals
MultiFamily
Sold 05/28/2025
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily asset located at 850 Sacramento Avenue in West Sacramento features 192 units and was constructed in 2005. The complex offers unit sizes ranging from 786 to 1,097 sq. ft., and includes amenities such as a pool, gym, and game room. The sale was completed for a price of $42,800,000, reflecting a price per unit of $222,917.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $42,800,000
  • Buyer: Bob Faith - Greystar
  • Seller: Ward Fitzgerald - EQT Exeter
  • Units: 192
  • Price Per Unit: $222,917
  • Market: West Sacramento
  • Year Built: 2005

In this transaction, Bob Faith represented Greystar as the buyer while Ward Fitzgerald represented EQT Exeter as the seller. Notably, the transaction reflects a 26% decrease from the property's previous sale price of $58.2 million in 2022.

Players

Bob Faith
27 deals$2.4B volume
BUYER

Ward Fitzgerald
EQT Exeter
13 deals$728.9M volume
SELLER

Details

SOLD
IMAGE: Bob Faith & Ward Fitzgerald DATE: 05/28/2025 ADDRESS: 850 Sacramento Avenue MARKET: West Sacramento ASSET TYPE: Multifamily BUYER: Bob Faith - Greystar (@Greystarapartments) SELLER: Ward Fitzgerald - EQT Exeter (@EQTExeter) SALE PRICE: $42,800,000 UNITS: 192 ~ PPU: $222,917 NOTE: Greystar acquired the 192-unit 850 on the Avenue in West Sacramento for $42.8M — 26% less than its 2022 sale price of $58.2M. Built in 2005, the complex offers units from 786 to 1,097 sq. ft. with amenities like a pool, gym, and game room.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$152,059.37
Cash-on-Cash Return-1.27%
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