Newmark arranged the sale of Rivergate Apartments, a 126-unit, value-add apartment community located at 900 Simon Terr. in West Sacramento. The property sold for an undisclosed amount.
Managing director Will Blucher and associate Wills Vlasek represented the seller, McCarty Sacramento Property LLC, in the disposition to a private buyer, IMG II, LLC.
“This transaction marks the property’s first sale in nearly 30 years and highlights sustained investor interest in Greater Sacramento’s rental housing market, with particular momentum in the West Sacramento submarket, one of the region’s premier growth areas,” said Blucher.
Less than three miles from Sacramento’s CBD, Rivergate Apartments offers 72 one- and 54 two-bedroom floor plans across 10 two-story buildings on a 3.59-acre parcel. Community amenities include a gated swimming pool, standalone leasing office, common area laundry facilities and spacious interior courtyards. Its convenient location provides access to the region’s prominent employment, retail and recreation centers.
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