Full article (for subscribers) by Ben van der Meer available at Sacramento Business Journal
A multifamily investment company out of Seattle has scooped up two affordable housing properties locally, paying nearly $50 million combined.
According to records, Security Properties bought the Arborelle Apartments in Citrus Heights in late August for $32.3 million, and the Shenandoah Apartments near Sacramento’s Pocket area in mid-September for $16.95 million.
“They’ve got strong fundamentals and a growth trajectory,” said Jeff Garrison, Security’s director of affordable housing. “And certainly there’s significant demand for affordable housing.”
Full article (for subscribers) by Ben van der Meer available at Sacramento Business Journal