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California  + Finance  | 

Sacramento MOB Backs Construction-to-Perm Loan

JLL Capital Markets arranged a $34.115-million construction-to-perm loan for SixSixty, a Class A medical building totaling 124,076 square feet in downtown Sacramento. Senior managing directors Jeff Sause and John Chun worked on behalf of the borrower, the joint venture of Revitate’s opportunity zone platform, RevOZ Capital and Argosy Real Estate Partners, to secure the seven-year loan through Siemens Financial Services.

SixSixty is located at 660 J St. in Sacramento’s Downtown Commons entertainment and lifestyle district. The area has benefitted from a substantial transformation over the past decade through the development of the award-winning Golden1 Center and Downtown Commons retail and entertainment district, among other attractions and luxury hospitality destinations, according to JLL.

Originally built in 1984, SixSixty was fully renovated following the borrower’s 2020 acquisition. 97% of the property’s rentable square footage was recently leased to one of the largest health systems in the nation.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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