Sacramento, CA

399,636 SQ FT

STATE OF CA – DEPT OF CORRECTIONS HQ

399,636 SQ FT

GOVT Real Estate Group was retained by a joint venture between Hines and Oaktree Capital to conduct the marketing and sale of the State of California Department of Corrections Headquarters, located in downtown Sacramento. Following a national marketing campaign culminating in an extremely competitive best and final offer process, a private real estate fund was selected, and the transaction was closed on a cash basis for $115 million. Pricing exceeded ownership’s prior value estimates by over 10%, demonstrating clear value creation through GOVT Real Estate Group’s representation.