 |
| Cheri Pierce |
SAN FRANCISCO, CA, Sept. 8, 2020 –
JLL Capital Markets announced today that it has closed the sale
and financing of 660 J Street, a 124,471-square-foot creative office and
retail property anchoring Sacramento’s DOCO entertainment and lifestyle
district.
 |
| Rob Hielscher |
JLL’s
Investment Advisory team represented the seller, a joint venture between the
Sacramento Kings and JMA Ventures LLC, in its sale to the buyer, RevOZ Capital,
a southern California-based opportunity zone buyer.
Additionally,
JLL’s Finance team secured acquisition financing on behalf of the buyer.
660 J Street is currently undergoing a redevelopment,
and when completed in 2021, will be the area’s best-in-class creative office
property.
 |
| Erik Hanson |
The
four-story building will feature a brilliant glass curtainwall, a rooftop
patio, flexible floorplates and vibrant street-level retail.
Located at the
corner of 7th and J Streets, 660 J Street is a cornerstone of
the DOCO District and is just steps from Golden 1 Center, the Kimpton Sawyer
hotel and an array of restaurants and experiential retailers.
Rob
Hielscher, Erik Hanson, Michel Seifer, Michael Manas and Cheri Pierce of JLL
Capital Markets represented the sellers, while financing efforts were led by Jeff
Sause and Jordan Angel.
 |
| Michel Seifer |
“Sacramento is California’s top growth city and is one of
only a few in the state that has seen strong positive migration in recent
years,” Hielscher said. “660 J Street is a key component of the highly
successful DOCO District of downtown Sacramento.
"It
will be exciting to see the transformation of the building into one of the most
high-end, mixed-use assets in the market.”
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
 |
| Michael Manas |
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please
visit our newsroom.
Jones
Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed
with the California Department of Real Estate, license #01223413.
About JMA Ventures LLC
 |
| Jeff Sause |
JMA is a full-service investment and development firm focusing on
real estate and leisure-lifestyle assets. The firm works on every project scope
from concept and entitlement through completion and operation. For more
information, please visit: jmaventuresllc.com.
About RevOZ Capital
RevOZ Capital facilitates the revitalization of federally sanctioned
Opportunity Zones by providing co-investment capital to qualified developers of
institutional quality projects.
RevOZ’s unique approach is a product of the
founders’ deep experience in urban redevelopment, capital markets and decades
of cycle-tested commercial real estate experience. To learn more, visit revozcapital.com.
 |
| Jordan Angel |
About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
JLL shapes the future of
real estate for a better world by using the most advanced technology to create
rewarding opportunities, amazing spaces and sustainable real estate solutions
for our clients, our people and our communities.
JLL is a Fortune 500 company
with annual revenue of $18.0 billion, operations in over 80 countries and a
global workforce of nearly 93,000 as of June 30, 2020.
JLL is the brand name,
and a registered trademark, of Jones Lang LaSalle Incorporated. For further
information, please visit jll.com.
Contact:
Natalie
Passarelli
JLL Senior Associate
Public Relations
Phone: +1 224 477 7307
