Who is Ethan Conrad? The Sacramento real estate mogul is facing assault allegations
The year had been a banner one in a biography marked with them.
Real estate investor Ethan Conrad had established a foothold in Sacramento’s downtown, staking claim in the high-rise rooftops and once-forgotten properties that dot the capital’s grid.
A sweeping profile this month in the Sacramento Business Journal shows a confident Conrad, arms folded, sporting sunglasses, atop an office building with a view of his latest acquisition as backdrop.
His latest prize: the 28-story Renaissance Tower at 801 K St. Conrad’s $21 million bid on the property was accepted at auction. Escrow closed Tuesday.
“Big milestone for us — we just closed escrow on one of downtown Sacramento’s tallest and most iconic office towers!” the announcement reads on his firm’s social media channels.
The deal was the latest — and largest — in a flurry of activity over the last five months for Ethan Conrad Properties, joining two other downtown addresses: 630 K St., four stories of office space near Golden 1 Center; and 770 L St.
Both buildings, in Conrad fashion, were purchased at a discount, and the buying spree was part of Conrad’s first foray into downtown Sacramento.
Months earlier, in March, he was named to the Sacramento Business Journal’s list of 2024 Most Admired CEOs.
But now Conrad is making new, troubling headlines in civil court, the powerful real estate figure named in allegations in a pair of sexual assault lawsuits stemming from separate incidents in 2022.
Ethan Conrad Properties is one of the most recognized real estate firms in Sacramento, its signature blue-and-gold signs, a common sight across the region. He resides on lists of the most influential real estate developers and owners nationwide.
Various estimates peg his net worth at $300 million.
Today, Conrad’s portfolio of shopping malls, office space and industrial holdings — 170 properties in all and valued at more than $1.6 billion— stretch from Chico to Los Banos. The portfolio surpassed 11 million square feet early this year
Conrad also has eyes on Citrus Heights’ plan to reimagine Sunrise Mall. Conrad paid a little less than $7 million for the vacant Sears building and one-time mall anchor in 2022, with plans to fit with Citrus Heights’ slated redevelopment of the mall, Sunrise Tomorrow.
The deals hew to a time-tested Conrad formula 30 years in the making.
Conrad, 59, began his career in 1989 as an industrial broker at Sacramento realty Bishop Hawk before striking out on his own with his self-named firm in 1995, specializing in the deals that for decades have been his calling card: spotting and acquiring distressed and undervalued properties.
The lawsuits have complicated what’s considered his most successful year yet. Conrad was not charged with any crimes connected to either incident and maintains he would fight the lawsuits with facts.
On Wednesday, Conrad’s attorney Glenn Peterson filed a countersuit that argues the sexual assault allegations are false and were made in an attempt to extort “hush money” from Conrad after having “consensual sexual relations” with a woman at his home.
Conrad points to a Sacramento County Sheriff’s Office investigation report, contained in his cross-complaint, that says deputies could not substantiate the woman’s claims.
Conrad told The Sacramento Bee the allegations in the second lawsuit also are untrue and were made by an ex-girlfriend upset over the end of their relationship.
“There’s no truth to any of these allegations,” Conrad told The Bee on Thursday evening. “I would hope that anyone who reads about this sees that I’m completely innocent of these charges.”
“Anyone can make allegations, but the facts speak for themselves.”
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