Sack Capital Partners and Align Finance Partners have completed a structured financing package to support Step Up Housing’s purchase of two multifamily communities in California, totaling 406 units and $91.35 million in transaction value. The deal covers the acquisition of Copper Creek, a 268-unit property in the Sacramento area, and Terramonte at Foothill, a 138-unit community in Pomona. As part of the transaction, Sack Capital Partners will also provide asset and property management services for both communities.
Copper Creek, located at 6430 Verner Ave in Citrus Heights, is described as a 268-unit garden-style community. The property traded for $54.65 million. A CBRE team comprising Marc Ross, Joe McNamara, Claire Holt, Andrew Behrens, and Jesse Weber represented the seller in the transaction, highlighting continued brokerage engagement on larger-scale multifamily trades in the region.
The Terramonte at Foothill community in Pomona includes 138 units and was sold for $36.7 million. Institutional Property Advisors, a division of Marcus & Millichap, arranged the sale, with a team of Kevin Green, Christopher Zorbas, Joseph Grabiec, Alexander Garcia, Jr., and Gregory Harris involved in the assignment. The two transactions together underscore ongoing activity in California’s multifamily investment sales market, even as capital stacks increasingly rely on structured solutions.
Step Up Housing is the buyer of both properties, using the new structured financing from Sack Capital Partners and Align Finance Partners to complete the acquisitions. While specific loan terms and the identity of any senior lender are not disclosed, the capital structure is positioned to support both current income and future improvements at the assets. Sack Capital Partners, based in San Francisco, is taking on asset and property management responsibilities, aligning its investment and management platform with the business plan for the communities.
David Feinberg, managing partner at Sack Capital Partners, said the acquisitions provide a foothold in what he characterized as two of California’s more resilient renter markets: the greater Sacramento area and the Inland Empire gateway market of Pomona. He noted that both communities offer stable in-place cash flow along with a defined value-add path, and indicated that the ownership team plans to invest further in the resident experience at each property. The combination of structured financing, experienced sponsorship, and a value-add thesis reflects how multifamily investors are approaching growth and risk management in competitive West Coast rental markets.
