Vitus announced the acquisition of River City Trio in Sacramento. River City Trio consists of three multifamily properties, totaling 55 units. In addition to renovating these properties, Vitus is preserving them as an affordable housing community for decades to come. Vitus partnered with the nonprofit Foundation for Affordable Housing on the project and Merchants Capital financed it with a Freddie Mac Tax-Exemption Loan of approximately $8 million. The portfolio also utilized a bond issuance of multifamily housing revenue bonds from the Sacramento Housing and Redevelopment Agency. Construction work will be completed by MFRG Icon with architectural services provided by True Craft Architecture. Upon completion of construction, the properties will be jointly managed by Aperto Property Management.
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