Sale of Downtown Sac Building Could Spark Changes to Neighborhood
Source: Sacramento Business Journal
Brokers: Ken Turton
The sale earlier this month of a sizable building on a redeveloping downtown Sacramento corridor could accelerate changes in its surroundings.
Bauen Fund 2018-830 LLC, which bought 830 K St. for $5.5 million, was particularly motivated by the property’s inclusion in an opportunity zone, according to brokers on the deal. Created by the 2017 federal tax law, opportunity zones are federally designated areas where buying properties or starting new businesses allows investors to avoid capital gains taxes.