Institutional Property Advisors Brokers Multifamily Sale in Northern Santa Barbara County
October 02, 2026
ORCUTT, Calif., Oct. 2, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Knollwood Meadows, 128-unit multifamily property in Orcutt, California.
“Knollwood Meadows is one of just nine multifamily assets with 100 or more units to trade in Santa Barbara County over the past five years,” said Kevin Green, IPA executive managing director. “IPA has represented the sale on six of those nine transactions, underscoring the team’s market leadership in the region.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller Knollwood Properties LP, and procured the buyer, an affiliate of Abacus Capital Group. “Santa Maria’s population has grown by 30% since 2000 while single-family home prices have increased by 106% over the last 10 years, further driving demand for multifamily assets like Knollwood Meadows,” said Grabiec.
Located off U.S. Route 101 near State Route 135, the property is a short drive from Vandenberg Space Force Base. The Santa Maria Town Center, Pacific Conservatory Theatre, Simas Park, Santa Maria Airport, and Allan Hancock College are nearby. Major employers in the area include Dignity Health - Marian Regional Medical Center, Hardy Diagnostics, Community Health Centers of the Central Coast, and Pictsweet Company.
Constructed in two phases in 1981 and 2008, Knollwood Meadows is a nine-building, two-story, controlled-access property with a swimming pool, fitness center, clubhouse, and laundry facilities. All units have a private patio or balcony with storage closets and second-floor units have vaulted ceilings.
“Knollwood Meadows is one of just nine multifamily assets with 100 or more units to trade in Santa Barbara County over the past five years,” said Kevin Green, IPA executive managing director. “IPA has represented the sale on six of those nine transactions, underscoring the team’s market leadership in the region.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller Knollwood Properties LP, and procured the buyer, an affiliate of Abacus Capital Group. “Santa Maria’s population has grown by 30% since 2000 while single-family home prices have increased by 106% over the last 10 years, further driving demand for multifamily assets like Knollwood Meadows,” said Grabiec.
Located off U.S. Route 101 near State Route 135, the property is a short drive from Vandenberg Space Force Base. The Santa Maria Town Center, Pacific Conservatory Theatre, Simas Park, Santa Maria Airport, and Allan Hancock College are nearby. Major employers in the area include Dignity Health - Marian Regional Medical Center, Hardy Diagnostics, Community Health Centers of the Central Coast, and Pictsweet Company.
Constructed in two phases in 1981 and 2008, Knollwood Meadows is a nine-building, two-story, controlled-access property with a swimming pool, fitness center, clubhouse, and laundry facilities. All units have a private patio or balcony with storage closets and second-floor units have vaulted ceilings.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.