Hearthstone Acquires Development Site In Sunnyvale, CA For $95M

The development site located at 1175 Aster Avenue in Sunnyvale, CA has been sold in a closed transaction. The property spans over 11.8 acres and was acquired by Hearthstone, represented by Mark Porath. The seller of the site was Peninsula Building Materials. The sale price for this transaction was $95,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $95,000,000
• Date: 10/27/2022
• Address: 1175 Aster Avenue, Sunnyvale, CA
• Market: Sunnyvale, CA
• Buyer: Hearthstone - Mark Porath
• Seller: Peninsula Building Materials
• Lender: Western Alliance Bank

This transaction involved the participation of Mark Porath from Hearthstone as the buyer's representative. Western Alliance Bank provided the lending for this deal. The acquisition of the development site marks a significant investment opportunity for Hearthstone and contributes to the ongoing growth and development of the area.