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Brass Enterprises acquired the recently developed 348-unit community in January from The Allen Morris Company of Coral Gables, FL in a deal valued at $107.6 million.
Investors have been active in Sacramento during the last year because of low vacancy, high demand, lack of new construction and affordable developable land, resulted in a spec development spike.
A SXSW panel pondered, in an age where medical diagnoses can be accessed on an app and vital signs monitored on a wristwatch, how can the industry innovate its way out of the affordable housing and homeless crisis?
A refinanced office complex benefits from not only favorable market dynamics but also organic growth from existing tenants such as Google which are drawn to the building's central location and amenities.