SACRAMENTO-Two apartment complexes here have changed hands in recent days in separate transactions. The larger of the two properties was Tuscaro, a 296-unit class A apartment complex in North Natomas that sold for $39.3 million. Klingbeil Capital Management sold the property to Fairfield Residential LLC.
Located at 4400 Truxel Rd., Tuscaro occupies 18.56 acres of land. The 281,584-sf development includes a mix of one-, two- and three-bedroom units. Amenities include a fitness center, a recreational path, swimming pool and spa, picnic areas with outdoor grills, a business and video center, VIP concierge service and a social room with a courtyard. Each unit includes breakfast bars and walk-in closets.
Brokers Stan Jones, Kenneth Blomsterberg, Jesse Nickerman, Phil Saglimbeni and Sal Saglimbeni of the Palo Alto and Sacramento offices of Marcus & Millichap brokered the transaction.
Twelve miles down Interstate 5 in southwest Sacramento, Greenhaven on the Lake Apartments, a 200-unit apartment community traded hands for $19.1 million. Security Properties Inc. of Seattle sold the asset to Oakmont Properties of San Francisco. The 14-building development was built in 1979 at 407 Florin Rd. David Silver and Mark Leary of Arroyo & Coates had the disposition assignment.
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