The Strand in West Sacramento, California

Partnership Acquires Garden-Style Asset in West Sacramento, California, for $126 Million

by Channing Hamilton

WEST SACRAMENTO, CALIF. — A partnership between The Bascom Group LLC and Oaktree Capital Management LP has acquired The Strand, a 408-unit property in West Sacramento. The garden-style asset traded for $126 million. The identity of the seller was not disclosed.

The Strand was built in 2021 by MBK Rental Living. The property consists of 39 three-story buildings offering a mix of one-, two- and three-bedroom apartments. The average unit size is 885 square feet. Amenities include two pools with cabanas, a clubhouse, fire pits and gas grills, a spa and fitness center, dog park, EV charging stations and bike trails.

Sares Regis will provide property management services.

Jason Parr and Scott MacDonald led Berkadia’s investment sales team, which represented the seller in the deal. Louis Friedel, Clay Akiwenze and Hank Workman of Berkadia arranged the debt financing for the transaction. Luke Goodwin and Alex Porterof Walton Street Capital LLC provided the acquisition loan. 

Bascom and Oaktree formed a partnership in 2014 with the acquisition of The Springs, a 320-unit community in Corona, California. The partnership has since purchased 31 multifamily assets totaling 10,118 units and roughly $1.5 billion in development costs across the U.S.

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