PulteGroup Acquires 5 Acre Development Site In Sunnyvale For $52M
1139 Karlstad Drive, Sunnyvale, California 94089, United States
$52,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 24, 2022
AI
1139 Karlstad Drive in Sunnyvale has been sold for $52,000,000. This 5-acre development site was purchased by PulteGroup, represented by Ryan Marshall, from the Sobrato Family Foundation, represented by John Albert Sobrato. The transaction took place on August 25, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $52,000,000
- Address: 1139 Karlstad Drive
- Market: Sunnyvale
- Buyer: PulteGroup - Ryan Marshall
- Seller: Sobrato Family Foundation - John Albert Sobrato
Ryan Marshall from PulteGroup and John Albert Sobrato from the Sobrato Family Foundation played key roles in this transaction. The sale of this 5-acre development site marks a significant move in the Sunnyvale real estate market.
Players
Sunnyvale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93