Tag: sacramento

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29th Street Capital to Develop Broadway Apartments in Sacramento, A Workforce Housing Opportunity Zone Project

Sacramento, Calif. (October 16, 2019) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, announces a brand-new multifamily development project. The firm plans to develop Broadway Apartments containing 444 one- and two-bedroom apartments, with later plans to develop a second phase. The development is in The Mill at Broadway master planned community in Sacramento, California. The development, covering more than nine acres, is in the heart of one of Sacramento’s qualified opportunity zones. Opportunity zones, created…

29th Street Capital Acquires Terrace at Fair Oaks Apartments; Property is Firm’s Sixth Sacramento-Area Acquisition

Sacramento, Calif. (May 31, 2019) – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Terrace at Fair Oaks Apartments, a 1972 vintage, 76-unit multifamily community located in Carmichael. 29SC plans to invest approximately $11,000 per unit in capital improvements. Interior upgrades include stainless steel appliances, durable flooring, improved cabinets, fresh paint and energy-efficient plumbing fixtures. Exterior renovations will focus on window replacements, parking lot improvements and landscaping upgrades. “We think the Carmichael submarket offers a great living…

29th Street Capital Acquires River Blu Apartments; Firm’s Fifth Sacramento Acquisition

Sacramento, Calif. (Sept. 28, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired River Blu Apartments, a 417-unit multifamily community located in the La Riviera submarket of Sacramento. 29SC plans to invest approximately $4.3 million in capital improvements focusing primarily on unit renovations, clubhouse upgrades and amenity enhancements. Kitchens will get stainless steel appliances, vinyl flooring and upgraded cabinets. Bathroom upgrades are expected as well. “The purchase of River Blu Apartments marks our…

29th Street Capital Acquires Second Sacramento-Area Property

Rancho Cordova, CA. (January 26, 2018) – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Sycamore Square Apartments, a 140-unit multifamily community in Rancho Cordova, California. 29SC plans to implement a $1.2 million capital improvement program to renovate interiors, enhance the exterior and improve the amenities, which will include pool and clubhouse upgrades. Sycamore Square is approximately 10 miles east of downtown Sacramento. “I’m pleased to continue our expansion in Sacramento and execute on…