Montgomery Partners announces double acquisition, furthering their Northern California portfolio

MILL VALLEY, Calif., Aug. 27, 2024 /PRNewswire/ — Today, Montgomery Partners, a leading multi-family real estate investment firm, announced the strategic acquisitions of Water’s Edge Apartments in Sacramento and Olympic Apartments in Santa Rosa. These acquisitions demonstrate the firm’s motivation to identify and capitalize on investment opportunities that exist in California amidst the trend of investors fleeing the state.

“With some investors exiting California to explore greener pastures, so to speak, we have found that there remain phenomenal opportunities in our own backyard. California’s population continues to grow with no relief in sight to lower the high barriers to owning a home. We at Montgomery Partners recognize the need for good quality rental housing in well-established markets,” said Braden Badger, Vice President of Investor Relations at Montgomery Partners. “The strong economies in Santa Rosa and Sacramento thrive on a number of diverse sectors, and we look forward to continuing to bring our established management expertise to Multifamily communities in these markets.”

The Water’s Edge Apartments, a two-story garden-style apartment complex comprised of 64 units in the desirable Pocket-Greenhaven neighborhood of Sacramento, was acquired by the firm for $10M. Located with immediate access to Interstate 5 and just across the street from the Sacramento River, residents will have convenient access to the region’s largest employment hubs and retail designations. Montgomery Partners plans to invest $2,160,000 into renovations as part of the overall capital improvements budget to upgrade units as they become available in all common areas, improve drought-tolerant landscaping, replace roofs, install signage, install exterior siding, and install lighting. 

The Olympic Apartments, a mid-century two-story garden-style apartment community of 12 units, was purchased for $2.2M. It is located in the sought-after St. Rose Historical Preservation neighborhood of Santa Rosa. Located just blocks from downtown Santa Rosa, within easy walking distance from a wide variety of retail destinations and award-winning schools. Convenient access to Highway 101 provides residents easy access for commuting to Santa Rosas’s diverse economic industries. Montgomery Partners plans to invest just over $316,000 into renovations as part of the overall capital improvements budget to upgrade the common areas, landscaping, roof, signage, and building exterior.

These strategic acquisitions further Montgomery Partners’ growing portfolio of multifamily assets throughout Northern California. The firm is dedicated to providing residents with high-quality living communities and delivering exceptional investment opportunities to its investors.

For interviews, images, and additional information, please reach out to Kate Wilkins at [email protected].

About Montgomery Partners: Founded in 1984, Montgomery Partners is a fully integrated real estate investment firm whose principals specialize in the identification, acquisition, renovation, and, through an affiliate, Montgomery Capital Management (MCM), the property management of value-add multifamily investments. The company’s mission is to secure undervalued properties in high-barrier-to-entry markets which yield maximum profitability for its private equity clients. Montgomery Partners and MCM maintain staff in offices in both Northern and Southern California. MCM performs internal asset management functions and offers direct oversight of property repositioning using highly experienced on-site and regional managers, an accounting/financial staff, plus a hands-on administrative and investor relations support staff. Learn more at montgomerypartners.com.

SOURCE Montgomery Partners