Soma Capital Partners, in partnership with a vehicle managed by Argosy Real Estate Partners, has acquired 1430 Q Street Apartments in Midtown Sacramento for $57.1 million. The property opened in 2021 and is 95% leased. It features 75 luxury apartment units, 8,700 square feet of ground floor retail and is walking distance to several amenities, including restaurants, retail and entertainment venues.

Soma Capital Partners acquired the property as a core-plus investment. The deal included a 99-year sale-leaseback with iStar Financial’s SafeHold REIT. Tye Palonen represented SafeHold in the transaction. Scott MacDonald and Jason Parr from Cushman & Wakefield represented the sellers on the transaction. Chris Botsford and Rene Alvarez with Walker & Dunlop provided loan advisory services to secure leasehold financing for the property.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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