Pacific American Trades Sacramento-Area Affordable Property
WNC & Associates partnered with the Foundation for Affordable Housing to purchase the 95-unit multifamily asset. The acquisition was funded with $7.4 million in Freddie Mac financing.
WNC & Associates, in partnership with the Foundation for Affordable Housing, has purchased Rancho Cordova, a 95-unit fully affordable community outside of Sacramento, Calif. from Pacific American Properties. According to Yardi Matrix, CBRE Capital Markets provided a seven-year, $7.4 million Freddie Mac acquisition loan to the buyer.
CBRE also provided $25.2 million in acquisition financing for Oakmont Properties’ recent purchase of a 168-unit Class A asset in Sacramento.
The community, located at 10685 Coloma Road in Rancho Cordova, is situated within 2 miles of Lincoln Highway, with downtown Sacramento approximately 15 miles to the west. A number of shopping and dining options are positioned within walking distance. A nearby public bus route connects the asset with the wider metro area.
The community contains 12 one-, 42 two- and 41 three-bedroom units, with floorplans ranging between 600 and 1,044 square feet. On-site amenities include laundry facilities, a playground and a clubhouse.
Image courtesy of Yardi Matrix