Trion Properties Pays $18M for Sacramento Community
Walker and Dunlop acted as equity partner, while Capital One originated a Freddie Mac acquisition loan of $14.2 million.
Trion Properties announced it has acquired Bella Pointe Apartments, a 136-unit community in Sacramento, Calif.
Walker and Dunlop acted as equity partner in the $18.2 million transaction. According to Yardi Matrix data, Capital One originated a Freddie Mac acquisition loan of $14.2 million for the purchase.
Built in 1978, the property comprises one-, two- and three-bedroom units with walk-in closets. Common-area amenities include a swimming pool and two laundry facilities. The buyer plans to implement a capital improvement plan for the exteriors. Yardi Matrix data shows that the asset last traded in 2016, when it was acquired by a private investor for $10.5 million.
Located at 10055 Terra Loma Drive, on 6 acres, the community is within one mile of Lincoln Highway. The surrounding area has several retail and dining options, including Rancho Cordova Town Center. Downtown Sacramento is situated 11 miles from the property.
In October, a joint venture of Trion and AMC Investments acquired Hood Apartments, a new 64-unit community in Gresham, Ore. The property traded for $12 million.