A Los Angeles-based real estate investment company says it has acquired Sierra Village, a 185-unit apartment community at 5416 Jackson St., in North Highlands.
Trion Properties said the property was purchased for $9.3 million from a Texas-based seller looking to move its West Coast assets. The transaction was brokered by Peter Stevens, Marc Ross and Will Blucher with the commercial real estate firm CBRE, which represented both the buyer and seller.
Sierra Village marks Trion’s fourth multifamily real estate purchase in the Sacramento-area market.
Sierra Village was developed in 1986 and includes two pools, two spas, a tennis court and a fitness center. The living unit mix is 41 one-bedrooms, 72 two-bedroom/one-bathroom households and 72 two-bedroom/two-bathroom units. The occupancy at the time of closing was 93 percent.
Trion said its future plans include “a moderate renovation program which includes renovations to the interiors of the units.”
Call The Bee’s Mark Glover, (916) 321-1184.