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6/05/25
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SixSixty, a 124k sf, four-story Class A medical building in downtown Sacramento, has been financed with a new construction-to-perm loan for $34.1 mil. The borrower is a joint venture of Revitate’s opportunity zone platform, RevOZ Capital and Argosy Real Estate Partners.
SixSixty is located at 660 J St in the heart of Sacramento’s Downtown Commons entertainment and lifestyle district, which offers an exceptional collection of restaurants and experiential retailers. The property sits within a designated Opportunity Zone, selected by Governor Jerry Brown and the State of California in 2018 to incentivize greater private investment and community benefit in specific census tracts. The area has benefitted from a substantial transformation over the past decade through the development of the award-winning Golden1 Center and Downtown Commons retail and entertainment district, among other attractions and luxury hospitality destinations.
Originally built in 1984, SixSixty was fully renovated following the borrower’s 2020 acquisition. Updates included a new glass and steel façade, renovated common areas and updated building systems. 97% of the property’s rentable square footage was recently leased to one of the largest health systems in the nation, who will invest substantial capital into the asset and has announced it will use the space as an “Advanced Orthopedics & Sports Medicine Care Complex”.
Jeff Sause and John Chun with JLL Capital Markets arranged the seven-year loan. It was funded through Siemens Financial Services.
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