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Kilgore Road & International Drive | Rancho Cordova, CA 95670
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Berkadia is pleased to exclusively present the opportunity to acquire The Residences at Capital Center Townhomes (the “Sites” or the “Offering”), two development sites totaling ±15.5 acres encompassed by Sacramento’s largest employment base. Presently approved for 177 for-rent townhomes on the larger ±11-acre parcel, the Sites present investors the optionality to re-entitle and deliver up to 280 townhome units, for-rent or for-sale, across the two parcels. Surrounded by an outdated townhome inventory with zero new construction since 2015, an inactive multifamily pipeline, and immediate access to more than 65,000 jobs, the Sites offer compelling supply/demand fundamentals — providing a developer with intrinsic long-term growth and value appreciation.
THE OPPORTUNITY
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The Right Project For This Location
INVESTMENT Highlights
THE LOCATION
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
JASON PARR
Senior Managing Director
415.407.2106
jason.parr@berkadia.com
CA DRE #01323188
SCOTT MACDONALD
Managing Director
415.310.0487
scott.macdonald@berkadia.com
CA DRE #01422005
Investment Sales
1 Post Street, Suite 1000
San Francisco, CA 94104
Northern California Office
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Rancho Cordova is home to the Sacramento region’s most robust employment submarket. Once completed, The Residences at Capital Center Townhomes will provide up to 280 modern residences surrounded by existing complementary office space in addition to future retail and rental housing.
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With The Residences at Capital Center Townhomes, investors have the opportunity to provide a flourishing residential community to a supply-starved submarket that currently features over 65,000 jobs and 3,400 businesses.
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Robust Demographics & Housing Fundamentals
Strategically positioned within a high-earning neighborhood, the area immediately surrounding the Sites features an average household income of ±$140K – ±25% higher than the MSA overall and expected to climb an additional 15% to ±$160K over the next five years.
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As the city continues to attract high-paying employers and adds a projected ±14,000 new residents by 2033, the increasingly affluent and expanding resident base will demand quality, contemporary residences such as those provided by The Residences at Capital Center Townhome communities.
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Continued Demand From Employers
Home to a range of industries including healthcare, aerospace, technology, insurance, and government, Rancho Cordova’s Highway 50 submarket boasts over 65,000 jobs and notable employers including Kaiser Permanente, Sutter Health, UC Davis Health, Centene, Aerojet Rocketdyne, JP Aerospace, Solidigm, Cerulean Global, Blue Shield of California, USI Insurance, Dignity Health, VSP Global, Delta Dental, and the State of California.
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The Highway 50 Corridor has demonstrated strong recent momentum with 40 leases signed in the past 12 months – maintaining its position as a top choice among employers in the Sacramento MSA with ±500,000 more leased square footage than the coveted Downtown submarket and the fourth-highest YTD absorption of all Sacramento submarkets as of Q1 2024.
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Unmatched Regional Connectivity
Highway 50, a major transportation channel between Sacramento and South Lake Tahoe, is located just minutes from The Residences at Capital Center Townhomes, providing future residents with easy access to employment hubs in Folsom and Downtown Sacramento.
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The Property is strategically situated within 20 minutes of many popular outdoor recreation and lifestyle destinations including the American River, Midtown Sacramento, Lake Natoma, Downtown Sacramento, Historic Folsom, and The Palladio. For weekends or day trips, South Lake Tahoe is just a quick 90-minute drive up Highway 50.
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KAOHU BERG-HEE
Senior Director
808.754.0033
kaohu.berg-hee@berkadia.com
CA DRE #0196886
SYDNEY LADRECH
Senior Financial Analyst 916.677.6633
sydney.ladrech@berkadia.com
CA DRE #02126658
BRAYDEN JOEL
Financial Analyst
503.933.9284
brayden.joel@berkadia.com
CA DRE #02204506
Brett Betzler
Senior Managing Director
949.981.1196
brett.betzler@berkadia.com
CA DRE #01330214