Top 100 U.S. law firm Akerman LLP is pleased to announce that it has helped guide real estate investment firm Nome Capital Partners in the purchase of an iconic California office building, The Ziggurat, in a $90 million transaction.
The Ziggurat, currently used entirely for California state offices in West Sacramento, was sold in a deal led by Nome Capital, with the assistance of Akerman partners Massimo D’Angelo, Andres Mendoza, and John Faust. D’Angelo is based in New York; Mendoza and Faust in Miami.
With the team's assistance, Nome Capital negotiated and managed the preferred equity investment by Pacific Coast Capital Partners (PCCP), the nation's second largest public pension fund. The four-party deal also involved Nome’s partner, Qinvest, Qatar’s leading investment group, and Citi.
“Nome Capital seized on yet another incredible opportunity to invest in the Capital Region’s real estate scene with this outstanding acquisition,” D’Angelo said. “We’re proud to have facilitated this complex deal, and we were honored to have been chosen to put all the pieces together.”
The Ziggurat—one of Sacramento's most recognizable buildings—creates long-term value for Nome's investors and serves as a great asset to its burgeoning real estate portfolio. The deal was the largest local real estate transaction in more than two years, according to the Sacramento Business Journal.
The Ziggurat is an iconic ten-story stepped pyramidal building, consisting of 373,725 square-feet of office property, together with an adjacent six-story parking structure, along the west bank of the Sacramento River.
Akerman LLP is a top 100 U.S. law firm recognized among the most forward thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth.
Akerman's Real Estate Practice Group offers comprehensive and fully integrated project counsel services to clients across the United States and Latin America. With substantial industry experience and local market insights, the firm represents clients in complex real estate transactions and financings, development and redevelopment projects, public-private initiatives and litigation. Recognized as a national tier one law firm for real estate law by U.S. News - Best Lawyers, the group advises investors, developers, builders, lenders, retailers, owners and corporate end users, often in high profile matters.