American Capital Group (“ACG”), a full-service real estate investment and development company, today announced it has obtained capitalization for Kinect @ Southport, a new, 322-unit suburban community located in the highly desirable West Sacramento submarket, moving the project to begin construction immediately. Financial terms were not disclosed.
Kinect @ Southport is anticipated to feature four-story residential buildings with elevators and private garages as well as a state-of-the-art recreation center and outdoor activity space, including a volleyball court, basketball court, pickleball court, gym and playground.
“West Sacramento offers a combination of affordability, job growth and desirable quality of life features that make it an attractive metropolitan city for young professionals with accelerating population growth,” said BJ Kuula, President, ACG. “Following our first two projects in West Sacramento built over a decade ago, we are pleased to add to our local presence and play this vital role in helping the local economy grow alongside the area’s projected population growth.”
Sacramento’s population is projected to grow nearly 10% between 2021 and 2026. The project site is conveniently located within miles of Sacramento’s Central Business District, which offers more than 170,000 jobs, and continues to attract large, blue-chip employers including with the State of California’s pension funds, Kaiser Permanente and Intel. Sacramento has the highest concentration of government jobs in the country, ahead of even Washington D.C., creating a more stable job market.
Based in Bellevue, ACG is an active multifamily investor and developer throughout the West Coast. The company has developed more than 6,000,000 square feet of multifamily space, including Kinect @ Burien, Kinect @ Shoreline and Kinect @ Totem Lake, slated for completion in 2023, 2024 and 2025, respectively.