Dealmaker: Berkadia Arranges $126M Sale, $94M Financing in Sacramento

(Illustration courtesy of Berkadia)

Berkadia, Ambler, Pa., arranged the $126 million sale of The Strand, a new 408-unit, garden-style apartment community in West Sacramento, Calif.

Berkadia Senior Managing Director Jason Parr, Managing Director Scott MacDonald, Senior Director Kaohu Berg-Hee and Director John Hansen of Berkadia San Francisco and Senior Managing Director Brett Betzler of Berkadia Irvine represented seller MBK Rental Living, Irvine, Calif.

The buyer, a joint venture between Bascom Group and Oaktree Capital Management LP, acquired the property in the third-largest single multifamily transaction in the Sacramento Metro’s history.

The property deal closed on January 24, 2025.

Managing Director Clay Akiwenzie and Director Hank Workman of Berkadia San Francisco sourced a $94 million loan from Walton Street Capital, Chicago, for the buyer.

Located at 500 Douglas Street, The Strand was built on 17 acres in 2022, offering low-density suburban living with abundant parking close to the city’s urban core.

With 39 three-story buildings offering one-, two-, and three-bedroom units averaging 885 square feet, The Strand is the third-largest property built in metro Sacramento in the last five years. Community amenities include two swimming pools with cabanas, a resident clubhouse, outdoor fire pits with gas grills, a fitness center, a dog park and dog wash area and EV charging stations.

Located adjacent to Sacramento’s urban core, the property offers access to major transportation corridors and the city’s Bridge District. It is a 10-minute bike ride to downtown Sacramento.