The Luxe is located 15 minutes from downtown Sacramento and comprised of two parcels.
SACRAMENTO—ColRich's recent $36.25 purchase of The Luxe multifamily community further solidifies the company's commitment to the Sacramento market, along with other companies in what some have described as a Bay Area exodus. ColRich now owns more than 1,100 units in the Sacramento MSA.
This was an off-market transaction that included two loan assumptions and a 1031 exchange for ColRich. The seller of the property was Southern California-based Latitude Real Estate Investors.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
