Copper Creek (Courtesy of Copper Creek)

Sack Capital Partners (Sack), a San Francisco-based real estate investment and management firm with multifamily properties throughout the west coast, and Align Finance Partners  (Align), specialists in affordable housing finance, today announced the close of structured financing on Step Up Housing’s acquisition of two California multifamily communities: Copper Creek, a 268-unit community in Sacramento, and Terramonte at Foothill, a 138-unit community in Pomona. The combined transactions total 406 units at $91.35 million. Sack will provide asset and property management for both properties.

“These two communities give us a foothold in two of California’s most resilient renter markets – greater Sacramento and the Inland Empire gateway of Pomona,” said David Feinberg, Sack Capital Partners Managing Partner. “Both properties offer the kind of stable in-place cash flow and clear value-add path that we look for, and we’re looking forward to investing in the resident experience at both communities.”

COPPER CREEK | SACRAMENTO, CA

Located at 6430 Verner Ave in the Citrus Heights neighborhood of the Sacramento region, Copper Creek is a 268-unit garden-style community built in 1987 along the high-visibility Interstate 80 corridor between downtown Sacramento and Roseville. The property offers a mix of one- and two-bedroom floorplans averaging 669 square feet, with approximately 62% of units already renovated. Amenities include a fitness center, resort-style pool, sand volleyball court, community garden, and dog wash and pet-wash stations. The community was 95% occupied at the time of sale at $54.65 million.

Sacramento is home to an estimated population of 2,476,045, projected to grow to 2,533,968 by 2027, with a median household income of $99,936 and a labor force of 1,109,048. The region was recently ranked the #1 place to live in California and the #2 most popular metro nationwide for homebuyers looking to relocate, according to Forbes and Redfin. The Citrus Heights submarket has posted average annual rent growth of 4.98% over the past five years with occupancy holding near 95.8%, and it remains one of the only submarkets in the region with no new supply in the development pipeline.

“Copper Creek’s proximity to Sacramento’s fast-growing healthcare employment corridor – anchored by Kaiser Permanente, Sutter Health, and Mercy San Juan Medical Center, all within a 15-minute drive – gives us confidence in durable, long-term renter demand,” said Jeff Smith, Sack Capital Partners Managing Partner and President. “With roughly 85% of units naturally qualifying as mission-driven, we can benefit the residential experience as we continue the property’s renovation program.”

CBRE, Inc. represented the seller in the Copper Creek transaction. The CBRE team included Marc Ross, Joe McNamara, Claire Holt, Andrew Behrens, and Jesse Weber.

TERRAMONTE AT FOOTHILL | POMONA, CA

Located at 150 West Foothill Boulevard (Route 66) in Pomona, California, Terramonte at Foothill is a 138-unit, low-density garden-style community built in 1963, with 67% of units in single-story buildings. The property offers a mix of studio, one-, two-, and three-bedroom floorplans averaging 910 square feet, along with two resort-style swimming pools, a fitness center, resident social lounge, barbecue pavilion, and 137 garages. The community sits within the highly regarded Claremont Unified School District, which carries an overall “A” Niche grade and a 97% graduation rate, and is within roughly three miles of Cal Poly Pomona, the University of La Verne, Western University of Health Sciences, and The Claremont Colleges.

Terramonte at Foothill (Courtesy of Terramonte)

Within a one-mile radius of the property, the average household income is $117,382, projected to grow 14.44% by 2030, while the city of Pomona – the seventh-largest city in Los Angeles County – has a population of 146,847 and a submarket vacancy rate of just 4.5%. A widening affordability gap between renting and homeownership in the surrounding submarket, where a typical monthly home payment now runs nearly double the average in-place rent, continues to support strong multifamily fundamentals in the market. The acquisition price was $36.7 million.

“Terramonte at Foothill sits in a submarket surrounded by some of the most affluent communities in the San Gabriel Valley and Inland Empire, including La Verne and Claremont, yet it remains an accessible, attainable option for renters priced out of homeownership,” said Feinberg. “Sack will continue to maintain and improve on the quality of this resort-style property.”

Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the Terramonte at Foothill transaction. The IPA team included Kevin H. Green, Christopher J. Zorbas, Joseph V. Grabiec, Alexander Garcia, Jr., and Gregory Harris.

Sack Capital Partners

Founded in 1958, Sack Capital Partners is a vertically integrated, private real estate company that focuses on the acquisition, improvement, management, and disposition of a broad range of multifamily properties in the Western U.S. Based in San Francisco, the firm’s current portfolio includes approximately 3,700 apartments in 21 cities in the Western U.S. For more information, please visit https://sackcapitalpartners.com/.

Align Finance Partners

Align Finance Partners was founded in 2017 and specializes in affordable housing finance. The principals of Align have provided over $7 billion of financing for affordable housing, and developed, owned, and managed approximately 27,000 affordable housing units in more than 275 communities throughout the United States.

CBRE, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm, with 2025 revenue in excess of $35 billion and more than 140,000 employees serving clients in more than 100 countries.

Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.