The property, which is located at 2121 Sunset Blvd., was built by Fairfield Residential and sold it to Stanford Meridian Apts LLC, a Southern California partnership, in 2000 for $41 million. Stanford Meridian Apts LLC's sale to Demmon Partners represents the third-highest price ever paid for an apartment complex in the Sacramento area.
Meridian Ranch features 452 luxury one and two-bedroom apartment homes starting at $880 per unit monthly. The project's amenities include high ceilings, full-size washer and dryers, private individual garages, an executive business center with complimentary high speed Internet access, a fitness center, and a swimming pool and spa.
Al Inouye and Steven Nelson of Hendricks & Partners represented Demmon Partners and Stanford Meridian Apts LLC in the sale.
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