The Acacia on Santa Rosa Creek is situated on an 11.6-acre site at 4656 Quigg Dr. in the heart of the Sonoma Valley wine country approximately 50 miles north of San Francisco, a location where a growing population is driving rental demand, according to Mark T. Alfieri, chief operating officer of Behringer Harvard Multifamily REIT I. In addition to what Alfieri calls "the resilient demand for multifamily housing in Sonoma County," he says that rental demand in the area is also driven by "a median home value that still exceeds half a million dollars."
Constructed in 2003, Acacia on Santa Rosa Creek consists of 15 three-story residential buildings and a clubhouse. Units range from one to three bedrooms and from 630 square feet to 1,271 square feet.
Community amenities include a resort-style pool, a business center, a fitness center, a recreation lounge, and picnic and barbecue areas.The property also is immediately adjacent to Santa Rosa Creek Trail, a walking and biking path that connects with downtown Santa Rosa.
The other California complexes that Behringer Harvard has acquired in recent weeks include two properties in Orange County: a 134-unit seniors complex in Laguna Woods and a 177-unit complex in Irvine. The purchase price of the seniors complex was not disclosed. The Irvine property, called the Calypso, sold for $49 million.
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