BLDG Partners Acquires Multifamily Properties Sycamore Pointe And Woodmark Apartments For $42.7M

The transaction involves a multifamily property located at 700 Kincheloe Court & 521 Pioneer Avenue in Woodland. The sale price for the asset was $42,700,000, comprising a total of 309 units across 278,175 square feet, resulting in a price per unit of $138,188 and a price per square foot of $154.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $42,700,000
• Buyer: Matthew Ellis, Matt Jacobs, Guy Penini & Sam Kuiumdjian - BLDG Partners
• Seller: Korda Group
• Brokers: Taylor Froland & Timothy Flint - CBRE
• Units: 309
• Square Footage: 278,175
• Price Per Unit: $138,188
• Price Per Square Foot: $154

BLDG Partners has acquired two affordable housing communities, Sycamore Pointe with 173 units and Woodmark Apartments with 136 units, in a simultaneous transaction. Both properties are classified as LIHTC communities, catering to residents at restricted income levels.