MG Properties Buys 312-Unit Sacramento-Area Community
Located at 6801 Leisure Town Road in Vacaville, CBRE arranged a $55.9 million Freddie Mac acquisition loan for North Pointe Apartments on behalf of the buyer.
By Alex Ciorogar
MG Properties Group has acquired North Pointe Apartments, a 312-unit community in Vacaville, Calif. CBRE Vice Chairman Brian Eisendrath and Vice President Cameron Chalfant arranged a $55.9 million Freddie Mac acquisition loan. Eastdil Secured’s Multifamily team represented the sellers. The new owner also plans renovate the building. According to Yardi Matrix, the property was 97 percent occupied at the time of the sale.
Spread across an 18-acre site, the property features a mix of one-, two- and three-bedroom units that average nearly 1,050 square feet and feature nine-foot ceilings. Located at 6801 Leisure Town Road, the property’s interior amenities include full-sized washers, dryers, security monitor, fireplaces and microwave ovens. Common-area amenities include:
- leasing center
- fitness center
- business center
- movie theater
- heated pool
- controlled access
- basketball court
- 472 fully covered parking spaces
Built in 2004, the two- and three-story property is 30 miles south of Sacramento. Lincoln Highway, Dwight D. Eisenhower Highway and Interstate 505 are all easily accessible from the property.
Image courtesy of MG Properties Group