Argosy Real Estate Partners Acquires 1430 Q Apartments in Sacramento, CA
We are pleased to announce that Argosy Real Estate Partners, in partnership with Soma Capital Partners, has acquired 1430 Q Apartments, a 75-unit, 2021-vintage, Class A apartment community located in the Midtown submarket of downtown Sacramento, CA. The property is a trophy-quality, newly-constructed, stabilized multifamily property in a desirable, infill submarket of Sacramento. The property is unique due to its strong location within the submarket, large unit sizes with condo-quality finishes and a significantly above-market parking ratio.
The property consists of an eight-story building with 8,700 sf of ground floor retail that is 100% leased to neighborhood service and food uses. The property includes a mix of studio, one-bedroom, two-bedroom, and three-bedroom floorplans, with an average unit size of 1,156 sf and market-leading condo quality finishes. Community amenities include a rooftop terrace, courtyard, fitness center, yoga room, bike storage, package lockers, and pet spa. Located one block off the R Street Corridor, the property is walking distance to numerous dining, retail and entertainment options in both Midtown and Downtown.
Soma Capital Partners (“SCP”) is a privately-held real estate investment and advisory firm based in San Francisco, CA with a focus on select markets west of Denver. SCP invests across the risk-return spectrum alongside its institutional capital partners and has acquired approximately 2.8 million square feet of commercial and residential property since inception in 2014.