Step Up Housing Acquires 260-Unit Vallejo Affordable

Sack Capital Partners and Align Finance Partners closed on structured financing for Step Up Housing’s $57-million acquisition of Bay Village Apartments at 107 Porter St. in Vallejo. Sack will also provide asset and property management for the 260-unit affordable asset.

“We are committed to maintaining the unusually high quality of this affordable asset, a significant addition to our expanding portfolio of affordable properties,” said Sack managing partner and president Jeff Smith. “This is the precise profile of lifestyle, location, and value-add that Sack and our partners at Step Up and Align are dedicated to owning and managing for the returns it brings to both the community residents and our investors.”

Institutional Property Advisors represented the seller. The property is located at the crossroads of major Bay Area employment and lifestyle destinations, including Napa Valley (16 miles), Walnut Creek (20 miles), Oakland (24 miles), the Tri-Valley (29 miles), San Francisco (30 miles) and Sacramento (59 miles).

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