Graceada Partners, an investment firm based in Modesto, CA has successfully sold 915 N. B St., a 108,690-square-foot multi-tenant industrial development located in Sacramento. Although the terms of the sale and buyer remain undisclosed, gross returns of 33% IRR and 1.7x MOIC were achieved as a result of this transaction.
The property was acquired by Graceada back in July 2021 with plans to implement capital improvements while bringing below market rent up to current market rate standards. Joe Muratore – co-CEO at Graceada – expressed his satisfaction with the outcome: “We are pleased with how this sale turned out despite challenging circumstances currently facing real estate markets.” He went on to add that “the success speaks volumes about our strategy and execution through any given market cycle” .
