Trion Properties has acquired 1503 Fulton Avenue, a 104-unit multifamily community located in Sacramento, Calif., for $23.6 million.
The property, named Courtyard at Artisan Square, was secured through a debt assumption transaction with a private seller.
The property is located within the Arden-Arcade submarket, where Trion currently owns two other properties. The submarket is one of the fastest-growing and top-performing rental markets in the nation, as Sacramento offers a relatively affordable alternative to nearby Bay Area cities while still providing favorable lifestyle amenities and convenient access to major employment centers.
“As we enter a year of uncertainty and pricing continues to fall from peak levels in 2022, our acquisition strategy has shifted to a defensive approach,” said Farhan Mahmood, partner and head of West Coast acquisitions at Trion Properties.
Previous ownership has fully renovated property exteriors and all unit interiors to
