ArtHaus Partners and Integrity Housing Acquire 368-Unit Creek at 2645 Apartments in Sacramento
ArtHaus Partners and Integrity Housing have partnered to acquire and preserve The Creek at 2645 Apartments, a 368-unit multifamily community in Sacramento, California, the firms announced July 22. The transaction is structured in connection with the Sacramento Housing and Redevelopment Agency's first 501(c)(3) bond issuance, marking a notable milestone in the agency's use of public financing tools to support housing preservation.
Deal Structure and Public-Private Partnership
The acquisition pairs ArtHaus Partners, serving as sponsor, with Integrity Housing as co-sponsor. The transaction is tied to a 501(c)(3) bond issuance by the Sacramento Housing and Redevelopment Agency, known as SHRA — a structure that can provide lower-cost financing than conventional debt, a meaningful advantage in a market environment shaped by elevated borrowing costs and tighter underwriting conditions.
The Sacramento Housing and Redevelopment Agency expressed support for the closing. "The Sacramento Housing and Redevelopment Agency is proud to close our first 501(c)(3) bond issuance, and we are grateful to our partners at Integrity Housing," the agency said in a statement included in the announcement.
A local elected official also weighed in on the transaction's community significance. "I am excited to welcome ArtHaus Partners and Integrity Housing to South Natomas. Our community needs more affordable housing — now and for generations to come," the official said, according to the announcement.
Property Overview: The Creek at 2645 Apartments
The Creek at 2645 Apartments is a 368-unit multifamily property located in Sacramento, California. At that scale, the community represents a meaningful share of local rental supply, particularly in the context of Sacramento's ongoing workforce housing demand. The announcement characterizes the transaction as an acquisition and preservation effort, signaling an intent to maintain the property's role as attainable housing rather than reposition it for market-rate rent growth.
Financial terms of the transaction, including purchase price, price per unit, loan amount, and cap rate, were undisclosed.
Market Context: Sacramento Multifamily and Preservation Financing
The deal arrives as California's multifamily sector continues to navigate the pressures that have reshaped investment activity since 2022, including higher borrowing costs, constrained refinancing conditions, and rising operating expenses. In that environment, preservation-oriented acquisitions supported by public agency financing have gained traction as a viable path for buyers seeking to underwrite deals with durable occupancy and policy backing.
The use of a 501(c)(3) bond structure through SHRA is particularly notable because it represents the agency's first such issuance. Tax-exempt bond financing of this type can reduce the cost of capital for buyers, which may be decisive when conventional debt markets are less accommodating. For Sacramento, a market where workforce housing demand has remained resilient, the preservation of a 368-unit community carries implications for local rental affordability.
The South Natomas submarket, referenced in the announcement, is a residential area in northern Sacramento.
About the Firms
ArtHaus Partners is a real estate investment firm based in Oakland, California, focused on multifamily acquisitions. Integrity Housing is a co-sponsor on the transaction. Both firms are identified as buyer-side principals in the deal. SHRA, the Sacramento Housing and Redevelopment Agency, is the public agency whose 501(c)(3) bond issuance provided the financing framework for the acquisition.
Sources: GlobeNewswire, July 22, 2026