Updated Sep 8, 2026
SOLDMultiFamily
Acacia Capital Corp. Acquires Villa Del Sol Apartments In Sunnyvale For $62.25M
295 East Evelyn Avenue, 355 East Evelyn Avenue & 395 East Evelyn Avenue
$62,250,000
Units
124
Asset Type
MultiFamily
Closing
Nov 17, 2023
About this deal
AI
Acacia Capital Corp., a San Mateo-based real estate investment firm, has purchased Villa Del Sol Apartments, a 124-residence complex located at 295, 355 & 395 East Evelyn Avenue in Sunnyvale, for $62.25 million. The transaction was completed with the seller, Pacific Urban Investors. The property, built in 2001, was acquired at a cost of approximately $502,016 per unit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $62,250,000
- Buyer: Acacia Capital Corp. - Robert Larson
- Seller: Pacific Urban Investors - Alfred Pace
- Lender: Fannie Mae
- Mortgage Broker: CBRE Multifamily Capital Inc.
- Units: 124
- Price Per Unit: $502,016
Acacia Capital Corp. secured a $32.5 million loan from Fannie Mae through CBRE Multifamily Capital Inc. to facilitate the acquisition of Villa Del Sol Apartments.
Players
Sunnyvale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93