SKK Developments and DeBartolo Development have sold the 277-unit Press Building in Midtown Sacramento, only a few months after finishing the project.
The two development firms sold the building, which also has 8,600 square feet of first-floor retail space, for $118 million to Oakmont Properties. That would put the Press, the largest single housing project in Midtown, near the top on a per-unit basis, with a price of $428,000. CBRE Sacramento, which brokered the deal, described it as the largest multifamily sale in Sacramento history.
Read the full Sacramento Business Journal article.