DeBartolo Development, SKK Development Sell Press at Midtown Quarter Multifamily Complex in Sacramento for $118M
SACRAMENTO — Tampa-based DeBartolo Development and SKK Developments have completed the disposition of The Press at Midtown Quarter, an apartment community located in Sacramento’s Midtown district. San Rafael-based Oakmont Properties acquired the asset for $118 million.
Marc Ross of CBRE brokered the sale, while Andrew Behrens of CBRE’s Debt and Structured Finance group arranged financing for the buyer.
Completed in June 2020, The Press at Midtown Quarter features 277 apartments and 8,600 square feet of ground-floor retail space. Amenities include a two-level coworking space; fitness center and yoga studio; rooftop lounge; pet spa and run area; bike lounge with repair and wash stations; car wash; and car charging stations. Additionally, the property offers an acre of outdoor community space with a heated swimming pool, community garden, bocce court, outdoor kitchens and fire tables with lounge seating.