ROCKLIN, CA - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the mutlihousing industry, announces the sale of Woodstream Townhomes in Rocklin, CA. The property – a rare townhome community with all direct-access garages and proven renovation upside – was an excellent value-add acquisition for San Jose, CA-based DiNapoli Capital Partners, LLC (DCP). The 137-unit community is located in one of the Greater Sacramento area’s most desirable submarkets. Acquired from Capital Valley Investments, a California-based real estate group, DCP purchased the asset for $20.9 million.
The ARA Northern California team, led by Mark Leary, were the exclusive advisors on this transaction. According to Mark Leary, “The South Placer County apartment market is experiencing a decline in vacancy and an increase in rents. Woodstream has several units that were upgraded by the previous owner and are achieving significant rent premiums as a result. DCP will have the opportunity to upgrade the balance of the units and increase property cash flow.”
Completed in 1985, Woodstream is the only all two-and three-bedroom townhouse apartment community, (sixty-seven percent of the units offer two levels of living space), in Rocklin. The property boasts large units with an average of 1,032 sf and a condominium map already in-place, allowing for several future exit strategies.
Capital Valley Investments, the former owner, sees Woodstream as an excellent reposition play in the marketplace for the new owners. CVI chose to sell this asset because their current focus is on buildings that are in excess of 200 units.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Mark Leary, at mleary@ARAusa.com or 415.273.2152.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com
About Ezralow/Capital Valley
Capital Valley Investments is engaged in the acquisition, development, redevelopment, financing, ownership, and asset management of real estate properties in California and the Western United States. The principals of Capital Valley Investments established their reputation as a developer, owner and manager of multi-family residential properties in Southern California over 30 years ago. Building on that foundation, the company diversified into other geographic areas and product and is now based out of Rocklin, CA.
About DiNapoli Capital Partners
DiNapoli Capital Partners ("DCP") is a privately held real estate investment firm engaged in the acquisition, development and management of hotels, apartments and other commercial real estate assets. The firm was established by F. Matthew DiNapoli, a founding principal of the successful Maritz-Wolff Hotel Equity Funds and is based in San Jose, CA. The firm employs a disciplined investment approach focused on value-added real estate projects.