FOLSOM, CA-The 336-unit class-A Sherwood Apartments complex has sold for $50.4 million.  TRI Commercial/Corfac International brokers John Gallagher and Dean Bagneschi, both principals in the apartment advisory team, represented both buyer and the seller. The seller is Sherwood Apartments LLC and the buyer is Sherwood Iron Point LP, a Bay Area investor.

Gallagher tells GlobeSt.com that the reason for selling was due to “a compelling price.” explains that the buyer was looking for a class A property “in a very strong location in Sacramento.” He points out that the buyer selected Sherwood Apartments because of the age, amenities, the location, and “after the investigation of the income and expenses of the property, the buyer was attracted to the impeccable operating results that the property had delivered for the past eight years.”

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