Sacramento, California – January 24, 2025 – MBK Rental Living today announced the successful disposition of The Strand, a newly developed 408-unit garden-style multifamily community in West Sacramento, California. Berkadia facilitated the transaction.
The sale of The Strand is the third-largest single multifamily transaction in the Sacramento MSA history. The new owner, a joint venture between Bascom Group and Oaktree Capital Management LP, closed the deal on January 24, 2025.
“We are thrilled to announce the successful sale of The Strand,” said Ken McCarren President at MBK Rental Living. “This transaction is a testament to the high quality of the community and the strong demand for rental housing in the Sacramento market. We are confident that the new owner will continue to provide a high level of service to the residents.”
Located at 500 Douglas Street, The Strand was built in 2022 on 17 acres, offering low-density suburban living with spacious residences, and abundant parking close to the city’s urban core.
It is one of only eight properties in the Sacramento MSA with more than 400 units, and one of only four built in the last five years of comparable size. It consists of 39, three-story buildings offering a mix of one-, two-, and three-bedroom units averaging 885 square feet. Individual units offer open concept living areas, modern custom-wood cabinetry, quartz countertops, stainless steel appliances, washer and dryer, central heat and air, wood-style flooring, and covered private balconies/patios. Community amenities include two resort-style pools with cabanas; a resident clubhouse; outdoor fire pits and gas grills; a spa and fitness center; a dog park and dog wash area; EV charging stations; bike trails; and more.
Located adjacent to Sacramento’s urban core, the property offers easy access to major transportation corridors and the coveted Bridge District, including Sutter Health Park, Drake’s Barn, & River Walk Park. It is just a short 10-minute bike ride to Downtown Sacramento.
About MBK Rental Living
MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its more than 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate LLC., the U.S. real estate development arm of Mitsui & Co., Ltd., a global trading and investment company with a diversified business portfolio.
MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. With Our World is brought to you by MBK Rental Living, a leader in developing environmentally and socially responsible communities. MBK is on a mission to make apartment living planet-friendly with its comprehensive program which seamlessly blends conscious design with high performance to provide healthier, more comfortable living environments for our residents. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.
