630 K St. Finds Buyer and Cap Improvements in the Process

The 87,140-square-foot mixed-use office and retail building at 630 K St. will undergo cap improvements.

SACRAMENTO—New York Life Real Estate Investors on behalf of an institutional client recently acquired the five-story 87,140-square-foot mixed-use office and retail building at 630 K St. from Swift Real Estate Partners. As part of its repositioning plan, the owner will be making significant capital improvements to the asset situated adjacent to Golden 1 Center that will bring it to class-A market-ready condition.

“We continue to be compelled by the growth trajectory recently experienced by downtown Sacramento and believe in its prospects going forward. The dynamism being created within the Downtown Commons region is impressive and we look forward to contributing to its continuation through our ownership of 630 K St.,” said Ross Berry, senior director at New York Life Real Estate Investors.