Avanath Capital Management LLC, a multifamily owner and operator specializing in affordable and workforce housing, recently acquired Rivers Senior – a 120-unit affordable senior housing community located in West Sacramento. The off-market deal was completed for $19 million with the seller whom Avanath has done numerous deals with.
“Sacramento’s biggest housing market challenge is affordability,” said Daryl Carter, Avanath’s founder, chairman and CEO. “Given current dynamics of rising market rate rents along with elevated cost of living and inflation this transaction is especially significant.”
Rivers Senior was constructed in 2008 boasting 98% occupancy. To ensure ESG principles are met consistent to their mission statement LED lighting will be installed as well as additional energy saving projects such as replacing roofs & boilers at the property location.
