RevOZ was established through the partnership of RAJ Capital, a multi-generational family office with deep real estate investment and development expertise, and Cress Capital, an institutionally-backed owner and operator of commercial real estate.
Case Study – Downtown Sacramento Revitalization
In May of 2013, the Bhathal family acquired the Sacramento Kings NBA franchise as principle co-owners as part of the Vivek Ranadive-led ownership group. Raj Bhathal was named Vice Chairman and Alternate Governor. Alex Bhathal was appointed to the Executive Board and Real Estate Committee Member.
Since the acquisition, ownership focused on a simple and monumental task: utilize the community unifying strength of the Kings brand to facilitate the revitalization of the downtown core in Sacramento. By the end of 2018, that dream has become a reality; for most observers the progress has been verifiable and occurred at warp speed.
• Formerly a dying Westfield Mall
• Vision was to leverage foot traffic generated by the 200+ annual events at Golden 1 Center arena to develop a new urban shopping and entertainment district
• Completed in 2017, the 16 story mixed-use tower and adjacent development houses:
• 250 –room Kimpton Sawyer Hotel
• 45 luxury condominiums
• 35,000 sq ft Sacramento Kings HQ
• 350,000 sq ft of shopping and restaurant space
• 120,000 of additional office space
Location: 500 J St., Sacramento
Completed: October 2017
Total Project Cost: $366m
Golden 1 Center
•Opened state-of-the –art basketball and event venue in 2016
•Took just 3 years from design to opening day, finishing 1 year ahead of schedule
•17,500 seats, 200+ events per year
•First LEED platinum arena
•NBA's first 4K ultra HD videoboard
Sited by numerous organizations as “Arena of the Year”, “Most Technologically Advanced Stadium”
Location: 500 David Stern Walk
Completed: October 2016
Total Project Cost: $577m
Now that the core projects spearheaded by the Sacramento Kings ownership group and the Bhathal family are racing towards completion, the question remains as to whether the investment can be viewed as a one off success, or will it inspire additional transformational development within the urban core? The answer thus far is a resounding 'yes‘ for future growth.
The number of downtown jobs has increased 38 percent, according to the Downtown Sacramento Partnership, a city economic development group. In the last year, 27 new stores have opened and 23 others are scheduled to open this year. So much construction is happening that the city has decided to hire two dozen new employees to process applications and building permits.