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Sack Capital, Align Finance back Step Up Housing on two CA multifamily deals
The financing supports Step Up Housing’s purchase of 406 total units across Sacramento and Pomona, totaling $91.35 million.
Sack Capital Partners and Align Finance Partners have closed structured financing for Step Up Housing to acquire two California multifamily communities, ConnectCRE reported.
The deals cover Copper Creek, a 268-unit garden-style property in Sacramento, and Terramonte at Foothill, a 138-unit community in Pomona. Together, the acquisitions total 406 units and $91.35 million.
Copper Creek, located at 6430 Verner Ave in Citrus Heights, traded for $54.65 million. CBRE represented the seller with a team including Marc Ross, Joe McNamara, Claire Holt, Andrew Behrens, and Jesse Weber, according to the report.
Sack Capital will provide asset and property management for both properties. ConnectCRE also noted that the $36.7 million Terramonte at Foothill transaction had previously been arranged by Institutional Property Advisors, a division of Marcus & Millichap.
Latest closeCopper $6.606 ▲0.2%