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SACRAMENTO, CALIF. — Newmark Knight Frank (NKF) has arranged the sale of The Luxe, a gated apartment community in Sacramento. ColRich acquired the asset for $36.2 million from Southern California-based Latitude Real Estate Investor. The off-market transaction included two loan assumptions and was a 1031 exchange for ColRich.
Totaling 164,840 square feet, The Luxe features 220 apartments, a business center, clubhouse, courtyard, fitness center, swimming pool and spa. Located at 2501 Hurley Way in Sacramento, the property comprises two separate parcels: 2501 Hurley Way and 2510 Wittkop Way.
Zachary LeBeouf and Anthony Pappageorge of NKF represented the buyer in the deal.