Oakdale Communities Receives $83M Construction Loan for 300-Unit Multifamily Property in Sacramento
SACRAMENTO — Houston-based Oakdale Communities has received an $83 million loan for the development of The Core Natomas, an apartment complex in Sacramento.
Located at 2705 Orchard Lane, the 300-unit, village-style community will feature 13 two- and three-story buildings offering one-, two- and three-bedroom layouts. On-site amenities will include a clubhouse, resort-style swimming pool, fitness center and outdoor kitchens. Construction is slated to begin in May.
Kevin Randles, Angelica Heath, Jim Richards and Susan Speer of CBRE arranged the financing, which represents 90 percent of total needed project capital. William Ayres, also of CBRE, brokered the acquisition of the land site.