SUNNYVALE — A big apartment complex in Sunnyvale has been bought by a veteran group of real estate investors from the Bay Area in a deal that tops $60 million.
The residential property, located at 355 East Evelyn Avenue in Sunnyvale, has been bought for slightly under $62.3 million, according to documents filed on Nov. 16 with the Santa Clara County Recorder’s Office.
San Mateo-based Acacia Capital, acting through an affiliate, bought the Villa del Sol apartment complex, the county property records show.
Pacific Urban Investors, a unit of commercial real estate firm Marcus & Millichap, sold the Villa del Sol apartments to Acacia Capital.
Villa del Sol is an apartment property with 124 units in two buildings, according to the Rent Cafe website.
The residential complex is at the corner of East Evelyn Avenue and South Sunnyvale Avenue in Sunnyvale.
Amenities in the just-bought apartment complex include a 24-hour fitness center, a spa, a hot tub, a pool and courtyards. The apartments also are within walking distance to Caltrain and restaurants.
The buyer of the apartments is primarily interested in purchases of multifamily properties, according to the company’s website.
“Acacia has extensive experience owning and operating apartments in all major markets in the Western U.S.,” Acadia Capital states in a web post.
The company’s target markets are the Bay Area, Northern California, Southern California, Seattle, Phoenix, Portland, Salt Lake City and Las Vegas, Acadia Capital stated.
The deal is a reminder that residential properties in Silicon Valley and other parts of the Bay Area can still entice buyers despite ongoing economic uncertainties.