Ridge Capital Offloads Two Ukiah Apartment Complexes
Ridge Capital sold a two-apartment Northern California portfolio for $23.5 million. No buyer was disclosed.
The apartment portfolio includes Sierra Sunset Village, a 68-unit development at 531 Capps Land and the Alderwood Apartments, a 53-unit venture at 1450 S. State Street in Ukiah.
Sierra Sunset Village features mostly two-bedroom apartments with open floor plans, stainless steel appliances, hardwood-style flooring and central air conditioning. Community amenities include a pool, fitness center and an outdoor picnic area.
Alderwood Apartments offers a mix of two- and three-bedroom floor plans onsite amenities that include a pool, covered garage parking and outdoor grilling areas.
Zach LeBeouf and Anthony Pappageorge of Northmarq’s Walnut Creek, Calif., Investment Sales team represented the seller in the deal.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout