BY BRANDY TUZON BOYD
THE NATOMAS BUZZ | @natomasbuzz
Walnut Creek-based Sequoia Entities has purchased Larkspur Woods Apartments in Natomas for $71 million.
Larkspur Woods is located in a tree-lined pocket of Natomas at 2900 Weald Way, north of West El Camino Avenue, and nestled between the I-5 and I-80 freeways.
This acquisition increases Sequoia Equities portfolio holdings to 14,120 units across 55 communities, according to a press release. The sale closed on Dec. 17, 2020.
Property records show the previous owner LW Partners LLC . The seller acquired the property in 2008 for $36.7 million, according to records from MetroList Services. Inc.
Built in 1991, the 16-acre, 232-unit apartment community features one-, two- and three-bedroom units which rent for between $1,745 per month to $2,500 per month, according to Apartments.com.
Among the Larkspur Woods property’s features are in-unit washers and dryers, built-in fireplaces, a private garage for every unit, and outdoor amenities such as a firepit, pool and spa, barbecue area and a clubhouse.
Sequoia’s property management arm will provide day-to-day oversight of Larkspur Woods, according to the press release.
Speak Your Mind
You must be logged in to post a comment.