Friday, April 11, 2008

Marcus & Millichap Lists 223-Unit Apartment Community in Roseville, CA for $35.68M


ROSEVILLE, CA-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Venu at Galleria, (photo above) a 223-unit multi-family community in Roseville. The listing price of $35.68 million represents $160,000 per unit.

Kenneth Blomsterberg, a vice president of investments in the Sacramento office of Marcus & Millichap, and Jesse Nickerman, an investment specialist in the firm’s Sacramento office, are representing the seller, Villas at Galleria LP.

“Venu at Galleria is a recently constructed multi-family community featuring design in a highly desirable rental market with tremendous job growth and diversity in employers,” says Blomsterberg.
“With its single and multi-level floor plans ranging from 600 to more than 1,700 square feet, Venu of Galleria boasts unique floor plans with a prime location, modern design and luxury combined with the best shopping, dining and entertainment Roseville has to offer,” added Nickerman.

Located at 301 Gibson Drive, the apartment community consists of 26 two- and three-story buildings situated on approximately 12 acres within walking distance of the Galleria Mall. (top left photo) The property is near the intersection of Highway 65 and Interstate 80 and directly across from the site of the planned Placer County Convention Center and Embassy Suites Hotel.
Built in 2003, Venu at Galleria features a strong mix of studios, one-, two- and three-bedroom units with 15 distinct floor plans. Unit amenities include nine-foot ceilings, decorative ceiling fans, designer, color-coded interiors, custom wood cabinets, large pantries, Roman soaking tubs and spacious patios/balconies.(Roseville, CA Civic Center photo at right)

Gas burning fireplaces and attached garages are available in select floor plans. Community amenities include a resort-style swimming pool and spa, fitness center, lounge, business center, interactive game room/movie theater, personal concierge services and in-house spa.

Press Contact:
Stacey Corso
Communications Department
(925) 953-1716

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