Solano County Apartment Complex Sale Brokered by Marcus & Millichap
October 07, 2020
VACAVILLE, Calif., Oct 7, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Camden Parc Apartments, a 232-unit apartment complex. The property sold for $58 million, equal to $250,000 per unit.
“All homes within the property are spacious and feature the amenities that matter most, making Camden Parc Apartments an attractive option for Vacaville locals and commuters alike,” said Steven Nelson, Marcus & Millichap first vice president investments. Nelson and Dusty Haeling, first vice president investments, represented the seller, JCM Partners, and procured the buyer, Camden Parc Residential LLC.
The apartment complex is located on Aegean Way, near Folsom Boulevard, less than 1 mile from I-80, giving Camden Parc’s residents convenient access to the Vacaville Premium Outlets, the Nut Tree Shopping Center, and numerous restaurants. The average household income in Vacaville is $63,204. Having its interiors and exteriors renovated in 2019, the property sits on 15 acres and has a unit mix comprising 31% one-bedroom, 65% two-bedroom and 4% three-bedroom units all spread out through 24 two-story buildings.
# # #
About Marcus & Millichap (NYSE: MMI)
With more than 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of $49.7 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.