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CITRUS HEIGHTS, CALIF. — Oakmont Properties has completed the disposition of Autumn Ridge, an apartment property located at 6011 Shadow Lane in Citrus Heights. Kennedy Wilson Fund VI, a commingled fund managed by Kennedy Wilson, acquired the asset for $120 million.
Marc Ross of CBRE represented the seller in the deal. Andrew Behrens and Jesse Weber of CBRE’s San Francisco office organized acquisition financing for the buyer.
Originally built in 1986, Autumn Ridge features 410 apartments in a mix of one- and two-bedroom layouts. Community amenities include three swimming pools and spas, a clubhouse, fitness center, fireplace lounge, racquet ball court, tennis court and business center. At the time of sale, the property was 96 percent leased.