February 27, 2017
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.
For comments, questions or concerns, please contact Dennis Kaiser