CBRE arranged the sale of Talavera, a 293-unit apartment community in Folsom, to New York-based Sentinel Real Estate. Talavera was the first asset to become available in the Folsom submarket in four years. CBRE’s Marc Ross, Eli Hanacek, Joe McNamara and Claire Holt represented the sellers, USA Properties & Strand Financial. Pricing was not disclosed.
“Talavera is the most compelling institutional multifamily opportunity to emerge in the Sacramento region in 20+ years, anchored by its coveted position in the Folsom submarket,” said Ross. “Top of the market demographics and schools, strong employment growth, high barriers to new construction, and exceptional location fundamentals have sustained deep investor demand, and Talavera is exceptionally well-positioned to capitalize on all of them.”
Located at 1550 Broadstone Pkwy, the four-building community was built in 2020. Talavera is Folsom’s only elevator-served multifamily property. The property was 96% occupied at the time of sale.
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