CONAM Adds to Fund Holdings with $40 Million Buy of Sonterra Apartments

Features November 14, 2025| | Amy Wolff Sorter

The CONAM Group’s Strategic Investments Fund IV, LP, expanded its holdings by acquiring the 136-unit Sonterra Apartments in the Sacramento, CA, suburb of Roseville. The San Diego buyer acquired the asset for $40 million and a 5.25% cap rate through an off-market deal. The seller was not identified.

A CONAM source told ApartmentBuildings.com that Sonterra Apartments was 95% occupied at the time of closing. The property, built in 2001, sits on 6.7 acres at 700 Vallejo Avenue.

“Sonterra represents the type of institutional-quality asset that aligns perfectly with our investment strategy — high-performing suburban communities in markets with strong demographics and barriers to new supply,” said Zach Markell, Acquisitions Director, CONAM, in a press release describing the transaction.

The multifamily property offers a mix of one- and two-bedroom units ranging in size from 820 to 1,040 square feet and priced between $1,970 and $2,110. The units have undergone upgrades.

On-site amenities include a 24-hour fitness center, a resort-style pool and spa, and an outdoor barbecue area. Other features include package lockers, picnic areas, a bocce ball court, a clubhouse and a leasing office.

The property provides convenient access to medical and technology employment centers. Additionally, Roseville has households with strong incomes and a population growth rate that outperforms much of the greater Sacramento region in terms of employment stability, highly rated public schools, and quality of life.

CONAM Strategic Investments Fund IV is a discretionary fund sponsored by the CONAM Group. The Fund acquired its first property, the 170-unit Skylar Grand in Portland, OR, in March 2024 and recently acquired the 325-unit Maxwell in Frisco, TX. The Fund is actively targeting well-located multifamily communities in high-growth U.S. markets.

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CONAM Adds to Fund Holdings with $40 Million Buy of Sonterra Apartments

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Brokers

Remax Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout