Graceada Partners and Osso Capital have acquired The Edge at Lakewood, located at 1401 Lakewood Ave. in Modesto, Calif. The 196-unit apartment community is located a few miles outside of downtown Modesto and within walking distance of Lakewood Elementary School.
The seller and the financial terms were not disclosed.
“We continue to see great potential in the Northern California region and a great deal of upside in multifamily assets here. And we’re excited to be working alongside a trusted partner like Osso Capital on this deal,” said Joe Muratore, principal with Graceada Partners. “As a Modesto-based firm, this property has been on our radar, and we thought this was an ideal acquisition given our knowledge of the market and ability to add value.”
Built in 1985, the Edge at Lakewood was partially renovated by the former owner between 2019 and 2020. Graceada and Osso plan to continue the renovation and add amenities, such as a renovated clubhouse and fi
