SACRAMENTO-Developer Angelo K. Tsakopoulos had proposed to the city of Sacramento in 2005 that it should annex the 577-acre farmland situated on its northwest side and rezone the land for 3,500 apartments and houses. The Greenbriar project was stopped later when the new home market crumbled.
Recently, Tsakopoulos has sold the property to Integral Communities. CoreLogic's figures show that the property was sold for $28.1 million. The developer lent $17.5 million to the South California developer to help finance the acquisition. For the full story, go to Sacramento Bee.
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