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CBRE arranges sale of Talavera apartment complex in Folsom
The 293-unit, four-building community was 96% occupied at the time of sale, and was built in 2020.
CBRE arranged the sale of Talavera, a 293-unit apartment community in Folsom, to New York-based Sentinel Real Estate, according to ConnectCRE.
Talavera was described as the first multifamily asset to come available in the Folsom submarket in four years. CBRE represented the sellers, USA Properties and Strand Financial, with deal coverage by Marc Ross, Eli Hanacek, Joe McNamara and Claire Holt, and pricing was not disclosed.
ConnectCRE said Talavera is located at 1550 Broadstone Pkwy, is housed in a four-building community built in 2020, and is Folsom’s only elevator-served multifamily property.
The property was 96% occupied at the time of sale, and Ross said the location in the Folsom submarket, along with factors such as demographics, schools, employment growth and barriers to new construction, has sustained investor demand.