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OM NOW AVAILABLE: EVIVA Midtown - 118 Units - Sacramento, California
2017-05-30 16:51:20
To: jose-1256@1000rebates.stream
From: cbre@rcm1.com (sender info)
Subject:

OM NOW AVAILABLE: EVIVA Midtown - 118 Units - Sacramento, California


Received: 2017-05-30 16:51:20 (1 sec.) Created: 2017-05-30 16:51:19
 

OFFERING MEMORANDUM IS NOW AVAILABLE
IN THE VIRTUAL DEAL ROOM


INVESTMENT OPPORTUNITY

CBRE’s Sacramento Multifamily Team is pleased to present the opportunity to purchase EVIVA Midtown, the Urban Core’s newest and most luxurious multifamily community. Recently opening its doors in October 2016, this 118-unit condo-quality community offers the best in luxury living in a phenomenal location – along the 16th Street Corridor, where Downtown and Midtown Sacramento intersect. EVIVA Midtown residents enjoy top-of-the-line interior finishes, as well as spectacular Downtown and Capitol Park views through oversized windows. The community offers its residents a robust amenity package that includes a 24-Hour Precor fitness center, community lounge and entertaining kitchen, serene courtyard with fire pit, BBQ, and food prep area, enclosed parking garage with controlled access, and the highest Walk and Bike scores of any community in the region.

EVIVA Midtown provides a new owner with the special opportunity to own one of only ten 100+ unit market rate multifamily assets in the Urban Core as well as the market’s newest asset. EVIVA Midtown’s prime location among some of the region’s most popular dining and entertainment amenities, highlighted by the newly-opened $560 Million Golden 1 Center, as well as its strongest employment sources, such as the Sutter Medical Center, Downtown CBD, and California State Capitol, make it an elusive “Trophy” asset fit for any investor’s portfolio.
               

INVESTMENT HIGHLIGHTS
SACRAMENTO LEADS THE NATION IN RENT GROWTH - As a result of rebounding employment and a supply pipeline ranking last among all major markets, Sacramento is leading the nation in year-over-year rent growth as of April 2017. According to Axiometrics, Sacramento is ranked first nationally, experiencing 8.7% year-over-year rent growth. More importantly, Sacramento is projected to be #1 among markets nationally for rent growth over the next two years.

BE PART OF AN EXCLUSIVE CLUB OF OWNERS - EVIVA Midtown presents an opportunity to own the newest, institutional quality asset in the most desirable submarket in the region. Furthermore, EVIVA Midtown is one of only ten market rate properties comprised of over 100 units in the Urban Core and one of just a few with NO affordable housing restrictions.

CORE AS SET WITH THE HIGHEST LEVEL OF LUXURY LIVING - EVIVA Midtown features a modern design that encompasses the finest amenities offered in the market, ranging from stunning views of Downtown Sacramento to top-of-the-line interior finishes. Gourmet kitchens featuring quartz countertops and stainless steel appliances as well as oversized windows with custom solar screen coverings are just a few of the features that attract the most discerning renters in the market.

LIVE/WORK/PLAY AT IT S BEST - EVIVA Midtown is located in the most convenient location within the Urban Core, at the 16th St. confluence of Downtown and Midtown Sacramento and only minutes from some of Downtown’s newest and most popular entertainment destinations, highlighted by the newly opened $560 million state-of-the-art entertainment and sports venue hosting the NBA’s Sacramento Kings. Within a half-mile walk, residents will find 18 coffee shops, over 100 restaurants, and more than 50 bars, all of which contribute to the property’s nearly perfect Walk Score (97) and Bike Score (99).

UNPARALLELED ABUNDANCE OF NEARBY EMPLOYMENT - With over 100,000 daytime employees in Downtown and growing, EVIVA Midtown is surrounded by some of the region’s largest employers, including several high-paying medical employers such as Sutter General, Mercy General, and UC Davis Medical Center, as well as the adjacent 1.5 million square foot East-End office park, the nearby State Capitol, and a consortium of lobbyists and legal and business professionals. Additionally, Downtown is slated for significant new employment with Kaiser Permanente’s expansion into the submarket by way of a 210,000 SF medical office building currently under construction, its new sports medicine clinic within Golden 1 Center, and a new hospital scheduled to arrive in 2022, which alone will create 3,500 new jobs.

 
CONVENIENT ACCESS TO THE REGION'S PUBLIC TRANSPORTATION - EVIVA Midtown’s residents will enjoy the convenience of a Sacramento Regional Transit Bus station right outside their door and a Light Rail connection only .3 miles south along 16th street, allowing residents to easily travel anywhere in the greater Sacramento region.

GROUND FLOOR RETAIL AMENITIES - Tenants will enjoy the comforts of multiple retail and dining options just steps from their front door with just over 5,600 SF of ground floor retail space within EVIVA Midtown, including a newly signed tenant which will occupy approximately 1,400 SF: Jimmy John’s Gourmet Sandwiches. Opening it’s first downtown location this August, Jimmy John’s is a gourmet sandwich shop featuring locally purchased produce and top choice meats, both brought in fresh and hand-sliced daily.

ON THE CUTTING EDGE OF NEW- AGE CONSTRUCTION - EVIVA Midtown features highly efficient Certified Cal-Green modular construction, which offers many benefits compared to typical on-site construction methods. Since these modular units were constructed in a climate-controlled, off-site setting, construction is extremely precise and consistent among all units. Additionally, units benefit from “double” insulation as a result of the Double-Wythe design, providing better sound proofing and temperature retention than that offered by on-site construction. The superior construction quality, sound attenuation, and modern design of EVIVA Midtown ensures a perpetual competitive advantage.


 
Marc Ross
Lic. 01361805
+1 916 446 8785

marc.ross@cbre.com
 
CBRE, Inc.
500 Capitol Mall, Suite 2400
Sacramento, CA 95814

Visit CBRE Deal Flow to view all available listings.

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© 2017 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Click to view our Privacy Policy



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