Brokerage Holliday Fenoglio Fowler today announced that it closed the sale of Heritage Park, a 328-unit affordable-housing community in Roseville, Calif.
St. Anton Partners purchased the property from MMA Financial Inc. for $30 million, using tax-exempt bonds and low-income-housing tax credits.
Heritage Park is located at 1098 Woodcreek Oaks Blvd. in a Sacramento suburb. Heritage Park has two-, three- and four-bedroom units averaging 946 square feet each. Community amenities include two swimming pools, a sport court, a clubhouse and a daycare facility.
Completed in 1992 using low-income-housing tax credits, the property restricts occupancy of all units to tenants who earn not more than 50-60 percent of the area median income until 2047.