Acquisition of The Flats at City Center

Deal value: $51,000,000

Acquisition of a mixed-use affordable housing project in Sacramento, CA, with 60,000 SF retail and 180 residential units, targeting workforce housing and local retail.

The acquisition targets a mixed-use affordable housing project in Sacramento, aiming to address the acute shortage of workforce housing while capitalizing on strong policy support and demand for affordable units. The investment is driven by the belief that mixed-use, infill developments near employment and amenities offer resilient returns and social impact, especially as California prioritizes affordable housing solutions. The timing aligns with state and local initiatives to expand affordable housing supply and revitalize urban centers.