Berkadia Negotiates $65M Multifamily Property Sale in Roseville, California
ROSEVILLE, CALIFORNIA – June 5, 2024 – Berkadia announced today the sale of Cyrene at Fiddyment, a 152-unit, single-family rental community in Roseville, California. Brett Betzler, Jason Parr, Scott MacDonald, and Kaohu Berg-Hee of Berkadia San Francisco along with Mark Forrester and Andrew Curtis of Berkadia Phoenix led the transaction on behalf of the seller, Phoenix-based Curve Development.
Cyrene at Fiddyment is comprised of 152 detached single-family homes averaging 1,496 square feet in Roseville, California. The property sold for $65 million on May 24, and was 97 percent occupied at the time of the sale.
“With strong resident demand and robust operational performance, Cyrene at Fiddyment is an excellent build-to-rent community that will continue to benefit from positive net migration and increasing costs of home ownership driving demand tailwinds for single-family rentals in high-quality suburban markets like Roseville,” said Betzler.
Located at 7409 Malakai Circle, the property benefits from its proximity within a master planned community featuring brand new grocery- anchored retail and dining options, highly rated public schools, and convenient access to public parks, hiking/biking trails, Lake Tahoe, and the Sierra Nevadas. Cyrene at Fiddyment was completed in 2022 and features 152-units with private yards, smart home features, Tesla solar power systems, and attached two-car garages.
Curve Development Sells 152-Unit Cyrene at Fiddyment in Roseville for $65MM | The Registry
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