The trend is sustained by an ongoing influx of new residents from pricier Bay Area markets and a limited multifamily supply.
With more than 5,500 projects underway—including the city’s largest in several decades—and strong employment gains, Sacramento remains a hot multifamily market.
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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.
The 216-unit student housing community was 100 percent occupied at the time of the sale to NB Private Capital. The property underwent major renovations in 2016.