NAPA APARTMENT PORTFOLIO SELLS FOR $39.5M

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NAPA, CALIF. – A two-property multifamily portfolio in Napa has sold to Ridge Capital Investors, LLC and Redwood Real Estate Partners for $39.5 million. The properties included in this acquisition were the 124-unit Saratoga Downs Apartments and the 54-unit Sheveland Ranch Townhomes. The contiguous Class A properties are located just south of downtown Napa. The combined assets have been rebranded as Saratoga Downs at Sheveland Ranch. They represent the newest apartment product in the Napa market. The new property will be managed by FPI Management. Vince Schwab of Marcus & Millichap’s San Francisco office represented both the buyers and the unnamed seller in this transaction.

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