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May 24, 2020
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ColRich Buys 220-Unit Multifamily Property in Sacramento


In a Sacramento multifamily investment deal, ColRich paid $36.25 mil for The Luxe, a 220-unit ($165k/unit), 164.8k sf residential community. With this acquisition, ColRich now owns over 1,100 units in the Sacramento MSA.

Located at 2501 Hurley Way in Sacramento, The Luxe is comprised of two separate parcels: 2501 Hurley Way and 2510 Wittkop Way. The gated community includes such amenities as a business center, clubhouse, courtyard, fitness center, swimming pool and a spa. The asset is located roughly 15 minutes from the heart of downtown Sacramento.

ColRich was represented by Zachary LeBeouf and Anthony Pappageorge with NKF in the off-market transaction. The purchase included two loan assumptions and was a 1031 exchange for ColRich. The seller of the property was Southern California-based Latitude Real Estate Investors.

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