Source: Sequoia Equities / #Apartments #Multifamily
WALNUT CREEK, CA - Sequoia announced the acquisition of Shaliko Apartment Homes, a 152-unit, Class-A apartment building located in Rocklin, CA. This acquisition increases the firm's portfolio holdings to more than 13,200 units. The property was developed in 1990 and is comprised of over 154,000 residential square feet in 19, two-story buildings.
The property is situated in an affluent neighborhood bordering Roseville, Granite Bay, and Loomis. With this ideal location, Sequoia’s executive team voiced having a unique opportunity and hidden potential in the community stating, “Given its residential setting, and large floorplan sizes, the community offers a more home-like feeling than is typical.”
Terms of the transaction were not disclosed, but Sequoia shared that it plans to invest over $1M to further modernize the apartments and amenities of the property. Sequoia's management arm will provide the day-to-day management services for the building.
Established in 1986, Sequoia has always remained committed to its mission of striving to make the ordinary a little more special by inspiring our employees and creating communities where people can expect more out of everyday life. Over 25,000 residents come home to a Sequoia community at the end of the day.