Avanath Capital Management has acquired a six-community affordable and senior housing portfolio in the Sacramento area for $182M in an off-market recapitalization deal.
The properties had previously been owned by a joint venture of Pacific Housing and St. Anton Capital, with ownership now transferring to a joint venture of Avanath and Pacific Housing, according to Yardi Matrix data.
Avanath Realty will manage the properties, which encompass 1,032 units. The company said it plans to upgrade the housing portfolio with sustainable and social service improvements.
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