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ARA Completes Sale of Seville at Mace Ranch

ARA Completes Sale of Seville at Mace Ranch

By David Phillips | West

DAVIS, CA—Atlanta-based ARA, the largest privately-held, full-service investment advisory brokerage firm in the nation focusing exclusively on multifamily, has completed the sale of Seville at Mace Ranch Apartments in Davis.

The property, an 84-unit quality community built in 2001, is 15 years newer than the average multifamily property in the Davis market, providing a better quality product than the competition.

The ARA Pacific team, led by San Francisco-based principal, Mark Leary, served as the exclusive advisors on the transaction. According to ARA’s Leary, “situated in a market with high barriers to entry, Seville at Mace Ranch presents the Buyer with a great opportunity to take advantage of a strong rental market that has recently seen significant rent appreciation. With its larger floor plans and direct access garages, the property presents the market with a different option then its competitors.”

Seville at Mace Ranch is a quality product located in the desirable city of Davis, California located near the University of California Davis. Due to the positive demographic fundamentals, multifamily demand is consistently strong.  Seville at Mace Ranch was approximately 93% occupied at the time of the sale.

Bridge Partners, the buyer of Seville at Mace Ranch, is an opportunistic real estate private equity investment firm headquartered near San Francisco, California. Bridge is excited to grow their portfolio in Davis. The property was sold by St. Anton Partners, a group based out of Sacramento, that has developed, constructed and continued to manage more than 5,500 multifamily residential units throughout California.

Trisha Malone, vice president of finance for St. Anton Partners, had this to say about the transaction, “we have and continue to see long term potential in the Davis market but effectively implemented our investment strategy on this particular asset and are now moving on to other opportunities.”

http://www.globest.com/news/12_894/west/multifamily/ARA-Completes-Sale-of-Seville-at-Mach-Ranch-347876.html?CMP=OTC-RSS&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+commercialiq-national-news+%28Commercial+IQ+-+National+News%29