New Growth Living Refinances Sacramento Apartment Complex
The owner of Tanzanite Homes has secured a $53 million loan for the 211-unit residential property.
Updated on Oct. 21, 2026 in Apartments
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New Growth Living has obtained a $53 million refinancing loan from Lument for the Tanzanite Homes community in Sacramento. The complex, which opened in 2024 at 2490 Quiet Trail Lane, is managed by SRG Residential.
Why it matters
Securing this refinancing allows the developer to restructure the debt tied to the project following the initial construction loan and subsequent permanent note issued in 2024. The deal provides financial stability for the property through its maturity date in 2029.
Tanzanite Homes spans 19 acres across 128 buildings, offering 211 total units. The property features 250 parking spaces and unit sizes ranging from 726 to 1,501 square feet.
The players
New Growth Living
The real estate development company that owns and operates the Tanzanite Homes community.
Lument
The commercial mortgage lender that provided the $53 million refinancing loan for the property.
SRG Residential
The professional property management firm responsible for the daily operations of Tanzanite Homes.
Arbor Realty Trust
A real estate investment trust that provided both the initial construction financing and the 2024 permanent note for the complex.
The details
The property, located near the intersection of Interstate 5 and 80, represents a significant residential addition to the local area. It previously secured a $46 million construction loan in 2021 before receiving a $50 million permanent note upon its completion in 2024.
Timeline
Arbor Realty Trust originated a $46 million construction loan for the project in 2021.
Tanzanite Homes opened and received a $50 million permanent note in 2024.
New Growth Living obtained a $53 million refinancing loan in October 2026.
The new $53 million loan is scheduled to be due in 2029.
Culture Shift
This refinancing reflects a broader trend of property owners navigating the current high-interest rate environment by restructuring commercial debt. It highlights the strategic shifts in asset management as firms look to secure long-term stability for large-scale multifamily projects.
The refinancing ensures the continued operation of the Tanzanite Homes community for its residents in Sacramento. While this financial move is handled at the corporate level, it provides long-term certainty for the property's management and maintenance standards.
The takeaway
Commercial real estate owners often utilize refinancing to manage debt as projects transition from construction to stabilized operations. Understanding these financial structures can help residents identify the stability and long-term management outlook of their own housing communities.
Further reading
For more information on the regional housing market, visit Sacramento Apartments.
Source note: This article includes information reported by 301 Moved Permanently.
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