Seville at Mace Ranch Apartments has been sold for $18.25 million to Bridge Partners, a San Francisco-area real estate private equity investment firm.
The sale was announced July 2 by ARA Real Estate Investment Services, which served as the transaction’s exclusive adviser.
Seville at Mace Ranch Apartments, 4501 Alhambra Drive, was built in 2001. The 84-unit apartment complex was approximately 93 percent occupied at the time of sale, according to an ARA release.
The previous owner and developer was St. Anton Partners of Sacramento.
“We have and continue to see long-term potential in the Davis market but effectively implemented our investment strategy on this particular asset and are now moving on to other opportunities,” Trisha Malone, vice president of finance for St. Anton Partners, said in the release.