New York Life Real Estate Investors doubles-down on downtown Sacramento

New York Life Real Estate Investors (NYL REI), on behalf of an institutional client, has acquired the five-story, 87,140-square-foot, mixed-use office and retail building, 630 K St. in downtown Sacramento.

The seller was Swift Real Estate Partners.

As part of its repositioning plan, the owner will be making significant capital improvements to the asset that will bring it to class A market ready condition.

630 K St. is the second acquisition NYL REI has arranged on behalf of its client in downtown Sacramento in the past two years. In early 2018 770 L St., a 170,267-square-foot class A office tower located right around the corner was also acquired.

“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 DOCO region is impressive and we look forward to contributing to its continuation through our ownership of 630 K Street,” said Ros