SACRAMENTO, CA—Brokerage firm ARA has closed the sale of The Eleven Hundred Apartments, a 1962-vintage 565-unit garden-style apartment community here that brought $44 million.
The Atlanta-based firm represented both the seller, Acacia Capital based in San Mateo, CA, and the buyer, Virtú Investments, Larkspur, CA. The sale price equates to $77,876 per unit or $101 per square foot.
The ARA Pacific team, led by San Francisco-based principals Mark Leary and Kyle Suryan, served as the exclusive advisors on the transaction.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
