[IMGCAP(2)]Leary, Curtis Gardner and Nate Oleson of ARArepresented both the buyer and the seller of the complex, which wassold by a Bay Area-based private investor. The property is at 1751E. Roseville Parkway, adjacent to a Safeway supermarket- anchoredcenter in the affluent Granite Bay district.

The 45-building complex, with units of one to three bedroomsthat average 1,043 square feet and rent for an average of $1,050,was 92% occupied at the close of escrow.

Leary says that a primary reason for the 14 offers despite thesoft economy is that Slate Creek is in the Granite Bay area, wheremedian home prices are the highest in the region at $585,000. It isone of the best-located multifamily assets in the region, hesays.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.