Greg Fowler Of FPA Multifamily Acquires Howe Manor Apartments In Sacramento For $18.9M

The transaction involved the sale of Howe Manor Apartments, a multifamily residential complex located at 950 Howe Avenue in Sacramento. The property spans 4.58 acres and consists of 152 units. The sale was executed for a total price of $18,875,000, equating to approximately $124,178 per unit. This property was originally developed in the 1960s and was previously owned by Howe Manor Inc.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,875,000
• Location: 950 Howe Avenue, Sacramento
• Units: 152
• Price Per Unit: $124,178
• Acres: 4.58
• Buyer: Greg Fowler - FPA Multifamily
• Seller: Howe Manor Inc
• Brokers: Claire Holt, Marc Ross & Joe McNamara - CBRE

The deal was facilitated by brokers Claire Holt, Marc Ross, and Joe McNamara from CBRE, who played a crucial role in connecting FPA Multifamily with the seller, Howe Manor Inc. This transaction marks a significant acquisition for FPA Multifamily in the Sacramento market, indicating ongoing interest in multifamily investments in the area.