February 27, 2017 Comments Off on Sagebrush Ambles into California with $27M Buy Views: 319 California News, Inland Empire

Sagebrush Ambles into California with $27M Buy

Denver, CO-based Sagebrush Capital Holdings acquired a two-property, 320-unit apartment portfolio in Victorville, CA for $27.4 million from Dublin, CA-based Thomas Tomanek & Associates. The closing cap rate was 6.5%.

The fully-occupied portfolio includes The Colony Apartments, a 200-unit community located at 14450 El Evado Rd., and Golden Sands Apartments, a 120-unit community located at 15930 Nisqualli Rd.

The properties, which are located roughly 2.5 miles apart, are both garden-style assets built in 1988 and renovated in 2014. In total, they include 41 two-story buildings, and are situated on just under 17 acres of land.

Sperry Commercial Global Affiliates’ David Baird represented the seller, as well as the buyer.

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