As Seen in GlobeSt

Arroyo & Company Negotiates Sale of Vacaville Apartments
June 1, 2011

San Francisco, CA (June 2011) -- Arroyo & Company announced today that it acted as advisor to an entity controlled by Bridge Partners of Walnut Creek, CA in the $5,550,000 disposition of Meadowood Apartments, a 64-unit multifamily community located in central Vacaville, California.  The property was acquired by an entity controlled by Green Leaf Partners of San Ramon, CA.

Originally constructed in 1976 and substantially renovated in 2007/2008, Meadowood is located between San Francisco and Sacramento near the intersection of I-80 and Elmira Road in Vacaville, and in close proximity to extensive retail options.  The low-density (15.5 units/acre) property comprises one and two bedroom units in four buildings with a separate fitness center, swimming pool, and child play area.  Green Leaf Partners will add the property to its existing portfolio under the new name Green Leaf Meadows.

The seller was represented in the transaction by Nathan Blair of Arroyo & Company.  The buyer acted on its own behalf.  “Green Leaf Partners is excited to add a stable cash flowing asset to its Northern California portfolio.  We are bullish on the short to medium term rent growth prospects for the I-80 corridor and feel that Green Leaf Meadows will benefit from this growth,” said Thomas A. Hall, CFO and co-founder of Green Leaf Partners.

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 nearly $1.4 Billion.  Specializing in the sale of multifamily income properties, the Arroyo & Company | CalMHG team provides a wide range of commercial real estate brokerage services for private and institutional investors throughout California.