BofA Unit Purchases Sacramento Complex

Bank of America’s Investment Real Estate Group has acquired the 162-unit, Woodside Oaks apartment complex in Sacramento for $10.4 million on behalf of a bank client.

The client is Bay 511 Corp., a real estate investment company based in San Francisco, which was attracted by relatively higher yields of the Sacramento market compared to coastal cities, bank investment director Jack Cooper said.

Woodside Oaks was constructed in 1977 on Sierra Boulevard about three miles northeast of downtown Sacramento.