One of Sacramento's largest-ever apartment transactions is a sign of how institutional investors are betting on the area's population growth and increasing demand for high‑quality rentals near the urban core.
Bascom Group and Oaktree Capital Management paid $126 million for The Strand, a 408-unit apartment complex developed by MBK Rental Living in a hot pocket of the state's capital city. The sale – the third priciest in Sacramento's history when it sold at the start of 2025 – is a sign of what's to come for West Sacramento, "a key submarket for the region's future growth and success," according to Troels Adrian, executive vice president at the Greater Sacramento Economic Council.
The sale earned the 2026 CoStar Impact Award for sale/acquisition of the year in Sacramento, as judged by real estate professionals familiar with the market.
The deal — bolstered by a competitive debt process with interest from various lenders —reinforces the institutional presence shaping Sacramento's next chapter of development as buyers look for long‑term stability in a competitive market.
The city offers a comparatively low-cost option compared to the Bay Area, where rents have been surging amid the artificial intelligence boom. Sacramento benefits from migratory trends that have driven the region's population growth over the past five years faster than California's, according to CoStar research.
About the project: Located at 500 Douglas St. and completed in 2022, The Strand spans 17 acres and offers low‑density luxury living across 39 three‑story buildings. The community has one‑, two‑ and three‑bedroom residences averaging 885 square feet, as well as perks including two pools, a clubhouse, fitness center, dog park, electric vehicle charging stations and bike trails — all within a 10‑minute bike ride of downtown Sacramento and steps from the Bridge District. Berkadia's Managing Director Clay Akiwenzie and Director Hank Workman sourced a $94 million loan from Walton Street Capital on behalf of the buyer, further underscoring the asset's strength.
What the judges said: The sale "underscores the confidence in this well‑positioned asset and the long‑term opportunity related to continued employment and population growth in and around Sacramento's central city," said Scott Ford, economic development director at the Downtown Sacramento Partnership. "The project provides balance between delivering proximity to the amenities of the city as well as access to a great quality of life."
"The Strand Apartments is my clear choice due to its $126 million sale — one of the largest multifamily transactions in the Sacramento MSA; demonstrating strong investor confidence and market impact," added Nathaniel Wright, senior project manager at FPI Management.
They made it happen: Berkadia Senior Managing Director Jason Parr; Managing Director Scott MacDonald; Senior Director Kaohu Berg‑Hee; Director John Hansen; Senior Managing Director Brett Betzler; Managing Director Clay Akiwenzie; Director Hank Workman; Senior Associate Sydney Ladrech; and Senior Associate Brayden Joel.