As Seen in GlobeSt

Arroyo & Company Negotiates $8 Million Sale of Sonoma County Apartments
June 22, 2011

San Francisco, CA (June 2011) -- Arroyo & Company announced today that it acted as advisor in the $8,000,000 sale of Montecito Pines, a 76-unit multifamily community located in Santa Rosa, California.

Constructed in 1977, Montecito Pines is located in the coveted Rincon Valley neighborhood of Northeast Santa Rosa. The garden-style property was mostly original, but well maintained, and is composed of 40 two bedroom, one bath units and 36 one bedroom, one bath units situated on a corner lot of 3.91 acres (19.4 units per acre). Common area amenities include a swimming pool and spa as well as separate men's and women's sauna rooms.

Jamie Clifford, David Silver, and Pedro Arroyo of Arroyo & Company's California Multihousing Group (CalMHG) represented both the buyer and seller in an off-market transaction. The buyer obtained a new loan at approximately 75% loan-to-value.

Since 2003, the Arroyo & Company | California Multihousing Group team has participated in the sale of more than 9,000 multifamily units on a total volume of more than $1.3 Billion Dollars. Specializing in the sale of multifamily income properties, Arroyo & Company provides a wide range of commercial real estate brokerage services for corporate and private investors throughout California and the West.