CONAM Group Acquires Sonterra Apartments, Enhancing Multifamily Portfolio in Sacramento
The CONAM Group has once again demonstrated its strategic growth and commitment to the Sacramento region with the acquisition of the Sonterra Apartments through its CONAM Strategic Investments Fund IV LP. This latest addition to their portfolio strengthens CONAM’s presence in a notably dynamic market and reinforces its reputation as a leading owner-operator in the multifamily space.
Located in the thriving city of Roseville, California, Sonterra Apartments presents a valuable investment opportunity and reflects the characteristics that CONAM seeks in its property acquisitions. The community features 136 units across ten two-story buildings, offering residents a comprehensive blend of amenities designed for convenience, leisure, and an active lifestyle. From a 24-hour fitness center to outdoor recreation spaces, Sonterra is equipped to satisfy the most discerning of residents.
The interior design and upgrades within Sonterra are telling of CONAM’s commitment to quality. With most units boasting hardwood flooring, stainless steel appliances, and granite countertops, the specificity of these enhancements underscores the company’s understanding of creating value through sophisticated design touches. The vaulted ceilings in second-floor units amplify the spacious suburban feel that so many renters look for in a home.
The strategic location of the property cannot be understated. Roseville serves as a magnet for both families and professionals due to its proximity to prominent medical and technology hubs, coupled with its access to superior public transportation. The area’s high-quality retail, lifestyle amenities, and educational institutions only add to the appeal of Sonterra.
Zach Markell, Acquisitions Director at CONAM, articulated the alignment of Sonterra with the organization’s investment ethos, stating, “Sonterra represents the type of institutional-quality asset that aligns perfectly with our investment strategy — high-performing suburban communities in markets with strong demographics and barriers to new supply.” This accentuates CONAM’s disciplined approach to selecting markets with favorable conditions — strong demographics, limited new supply — ensuring their investments are positioned for anticipated stability and growth.
Sonterra’s addition to the CONAM portfolio is a testament to their deep understanding of the multifamily industry and their adeptness at identifying and securing properties that align with their strategic vision. As the multifamily industry evolves, CONAM’s ability to adapt and capitalize on market conditions stands out as a hallmark of their success in the sector.