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In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brett Betzler
Senior Managing Director
949.981.1196
brett.betzler@berkadia.com
Andrew Curtis
Director
602.571.4190
andrew.curtis@berkadia.com
Jared Glover
Director
702.498.4232
jared.glover@berkadia.com
Mark Forrester
Senior Managing Director
602.526.4800
mark.forrester@berkadia.com
Kaohu Berg-Hee
Senior Director
808.754.0033
kberghee@berkadia.com
Investment Sales
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LOCATION
Cyrene at Fiddyment is situated in one Sacramento’s most affluent suburban neighborhoods. The area boasts incomes well above the metro average and provides access to major employers like Kaiser Permanente, Oracle, Hewlett Packard, Sutter Health and Micron Technology.
High Demographic Submarket near Demand Generators
Cyrene at Fiddyment benefits from its proximity within a master planned community featuring brand new grocery-anchored retail and dining options, highly rated public schools, and convenient access to public parks, hiking/biking trails, Lake Tahoe, and the Sierra Nevadas.
Strong Micro Location with Exceptional Family Appeal
Roseville/ Rocklin, one of California’s top performing submarkets, continues to benefit from post-Covid migration as renters flee high-cost coastal cities in favor of relatively affordable suburban markets. This trend has resulted in market-wide rent growth of +25% since 2020.
In-migration Trends Driving Rental Fundamentals
Recent home sales in the city of Roseville have averaged ±$632,000, making owning a home significantly more expensive than renting in the area. High home values and rising interest rates have made mortgage payments increasingly cost prohibitive. Declining home ownership affordability and limited resale opportunities should continue to create demand tailwinds for single-family rentals.
Rent vs Own Provides Headroom
With only 525 units under construction, high barriers to entry continue to limit inventory growth in the submarket. Third-party research platforms project high occupancies of ±95% and strong average submarket rent growth of ±4.6% year-over-year through 2027.
Limited Pipeline Fueling Strong Forecasts
Completed in 2022, Cyrene at Fiddyment consists of 152 spacious, single-family homes averaging 1,496 square feet. The homes feature private yards, smart home features, Tesla solar power systems, and attached two-car garages.
Best-in-Class, Single-Family-for-Rent Community
INVESTMENT HIGHLIGHTS
Berkadia is pleased to present Cyrene at Fiddyment, a 152 unit, single-family-for-rent community in Roseville, California. Completed in 2022, Cyrene at Fiddyment presents an attractive mix of three- and four-bedroom homes in a high-growth, Class-A, suburban market. All units feature thoughtfully designed floorplans with private backyards, attached two-car garages, and modern conveniences including smart home technology and tesla solar power. Rental fundamentals in Roseville are among the best in California and accelerating net migration has resulted in robust rent growth. Single-family rental demand continues to be bolstered by rising interest rates/mortgage payments and limited resale opportunities.
Total Purchase Price: Determined by Market
The Opportunity
16601 N. Parkview Place | Surprise, AZ 85374
Cyrene at Fiddyment
1,496
AVG. SF
3 & 4
Bedroom Homes
152
Homes
2021-2022
BUILT
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Cyrene at Fiddyment offers investors an attractive opportunity to purchase 152 homes at a ±20% discount compared to retail home purchases in the surrounding master planned communities.
Offered Below Retail
Kristin Watson
Operations Director
480.560.5333
kristin.watson@berkadia.com
7409 MALAKAI CIRCLE, ROSEVILLE, CA 95747
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1,496
AVG. SF
3 & 4
Bedroom Homes
152
Homes
2022-2023
BUILT
Michael Slovitt
Managing Director
312.636.5322
michael.slovitt@berkadia.com
Mortgage Banking
Grant Bailey
Real Estate Analyst
312.845.5160
grant.bailey@berkadia.com
Scott macdonald
Managing Director
415.835.9206
scott.macdonald@berkadia.com
Jason Parr
Senior Managing Director
415.835.9205
jason.parr@berkadia.com