Sobrato Family Foundation Acquires Normandy Park Apartments And Richard Tod Spieker Buys Vista Point Apartments In Santa Clara For $75.6M

The Normandy Park Apartments and Vista Point Apartments, two Santa Clara apartment complexes built in the 1960s, have been sold for a total of $75.6 million. The Sobrato Family Foundation purchased Normandy Park Apartments for $49.5 million, while Richard Tod Spieker of Windy Hill Property Ventures acquired Vista Pointe Apartments for $26.1 million. The transactions reflect the continued investor interest in the apartment sector.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $75,600,000
• Units: 208
• Price per unit: $363,462
• Address: 48 - 50 Washington Street & 3455 Homestead Road
• Market: Santa Clara

The Sobrato Family Foundation and Richard Tod Spieker of Windy Hill Property Ventures are the buyers in this transaction. The sellers are Cambridge Property Management and Milton Levin. These prominent Bay Area real estate players have shown their interest in acquiring these well-established apartment complexes in Santa Clara.