VisionWise Capital Completes $22,425,000 Sale of The Savannah Court Apartment Community in Sacramento, California
SACRAMENTO, CA – AUG. 17, 2017 — VisionWise Capital announces the sale of Savannah Court, a 195-unit Class B apartment community, located at 4301-4399 Norwood Avenue, in Sacramento, California, for $22,425,000.
The Seller, VisionWise Capital, led by Founder/CEO Sanford Coggins, engaged CBRE’s Sacramento multifamily brokerage team to complete a four-month strategic marketing effort. Applying an “open-bid” pricing strategy, VisionWise Capital allowed market-driven competition to establish the price at which the Property was valued. The result was 12 prospective buyers touring the property, which resulted in 11 offers. A “Best and Final” request was provided to five of the most qualified prospective buyers with the result being a sales price over 59% greater than the purchase price of $14,050,000 three years earlier.
The VisionWise Capital Shareholders who were invested in The Savannah Court Apartments earned a 1.7x return on their money, and were very communicative about their excitement. One investor commented on how, “…for the first time in my investing lifetime, I feel like I did not ‘miss out’ on the kind of real estate investment returns I have so often read about, but never found a safe way to personally access.” The story is simple, VisionWise Capital is, for its Investors, a steward of capital for passive real estate investments.
Built in 1986, Savannah Court Apartments consist of 195 units spread across 24, garden-style, two-story buildings and 8.92 acres. The property offers studio, one, and two bedroom units and boasts high-level amenities such as in-unit washer/dryers, central heat & air, balconies/patios, walk-in closets and gas fireplaces. Residents enjoy various community amenities including a fitness center, business center with free computer use and internet, tennis court, swimming pool and spa.
About VisionWise Capital
VWC understands that the greatest risk in real estate is not the real estate itself – it is the way the real estate investment is structured financially. Too much debt is the enemy of long lasting real estate ownership. With VisionWise’s Debt Replacement Solution, investors can take advantage of thoughtfully underwritten multifamily properties in Southern California with less risk of losing the asset in a recession.
By purchasing, renovating, managing and ultimately selling the apartment properties, VWC does the work to maximize rents, increase cash flow, and create a higher market value for the asset. While the properties are being managed, investors are earning income from the rental payments produced month after month from the renovated properties. For more information, or to schedule a conference call with Sanford Coggins directly, please email email@example.com, or call us at 949 441-5580. We look forward to offering you our finest service.