Ridge Capital sold a two-apartment Northern California portfolio for $23.5 million. No buyer was disclosed.
The apartment portfolio includes Sierra Sunset Village, a 68-unit development at 531 Capps Land and the Alderwood Apartments, a 53-unit venture at 1450 S. State Street in Ukiah.
Sierra Sunset Village features mostly two-bedroom apartments with open floor plans, stainless steel appliances, hardwood-style flooring and central air conditioning. Community amenities include a pool, fitness center and an outdoor picnic area.
Alderwood Apartments offers a mix of two- and three-bedroom floor plans onsite amenities that include a pool, covered garage parking and outdoor grilling areas.
Zach LeBeouf and Anthony Pappageorge of Northmarq’s Walnut Creek, Calif., Investment Sales team represented the seller in the deal.
