New 280-Unit Complex Obtains $27M in Permanent Financing

SACRAMENTO-An investment entity of The Grupe Companies of Stockton, CA has obtained a $27-million financing to pay off a construction loan for Irongate Apartments, a recently completed 280-unit garden-style apartment complex on 13 acres in North Natomas, approximately three miles northwest of Downtown Sacramento.

Irongate Apartments consists of 19 two-story apartment buildings and a recreation building situated on thirteen and a half acres at 3301 Arena Boulevard on the northwest corner of Arena Boulevard and Duckhorn Drive. The apartment buildings contain one-, two- and three-bedroom units that range in size from 748 sf to 1,240 sf. In-unit features include full-size washer and dryers, ceiling fans, walk-in closets and central heating and air. The recreation building contains a media area, kitchen, fitness center, business center and swimming pool.