Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SACRAMENTO-Downtown Sacramento’s nine-acre Capitol Towers complex was recently acquired by Flanagan Fowler Partners for an estimated $25 million. Flanagan plans to renovate the property, which encompasses about four city blocks.

Brian Kraft of Szabo-Kraft represented both Flanagan and the seller, Capital Tower Trustees. Kraft says the owner decided to sell for estate planning purposes and that both sides were happy with deal.

“It’s an irreplaceable location and an irreplaceable property,” adds Kraft. “Nine acres in Downtown Sacramento is something that hasn’t happened since the settlers came.”

The property, which consists of one 15-story, 203-unit apartment tower, a separate parking structure and approximately 25 smaller apartment buildings, is set in a garden-style environment. The Capitol Tower building’s ground floor is occupied by restaurants and shops.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.