Arroyo & Coates Negotiates $19.1 Million Sale of Northern California Apartments
March 30, 2007

SACRAMENTO, CA – David Silver and Mark Leary of Arroyo & Coates announced today that it acted as advisor to Seattle, WA based Security Properties, Inc. and Des Moines, IA based Principal Real Estate Investors in the $19.1 Million disposition of Greenhaven on the Lake Apartments, a 200-unit apartment community in Sacramento, CA. The property was acquired by Oakmont Properties of San Francisco.

Originally constructed in 1979, Greenhaven on the Lake is located at 407 Florin Road in Sacramento. The community comprises 14 buildings of one, two and three bedroom units. The seller was represented in the transaction by David Silver and Mark Leary of Arroyo & Coates. The buyer, Oakmont Properties, represented itself. Oakmont Properties currently owns several thousand units of multifamily housing throughout the greater Sacramento area.