Christine Lundy Of Step Up Housing Acquires Multifamily Portfolio In Sacramento And Pomona For $91.35M

The transaction involves the acquisition of two multifamily properties: the 268-unit Copper Creek community located in Sacramento and the 138-unit Terramonte at Foothill community in Pomona. The total sale price for these assets is $91,350,000, resulting in a price per unit of $225,000. The properties contribute to Step Up Housing's expansion of their multifamily holdings in California.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $91,350,000
• Units: 406
• Buyer: Christine Lundy - Step Up Housing
• Brokers: Marc Ross, Joe McNamara, Claire Holt, Andrew Behrens, Jesse Weber - CBRE; Kevin Green, Christopher Zorbas, Joseph Grabiec, Gregory Harris & Alexander Garcia Jr - Institutional Property Advisors - Marcus & Millichap
• Lender: David Feinberg - Sack Capital Partners; Align Finance Partners

Step Up Housing was represented in the deal by Christine Lundy. Financing for the acquisition was arranged by Align Finance Partners, while asset management will be provided by Sack Capital Partners. Copper Creek sold for $54.65 million, and Terramonte at Foothill transacted for $36.7 million.