John Atwater Of Prime Finance Acquires Citra Apartment Complex In Sunnyvale For $68.5M

The multifamily asset involved in this transaction is located at 745 South Bernardo Avenue in Sunnyvale, comprising 147 units and spanning 5 acres. The property was sold for $68,500,000, resulting in a price per unit of $465,986, which surpasses the five-year average in Santa Clara County, indicative of strong investor interest in the market.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $68,500,000
• Address: 745 South Bernardo Avenue
• Market: Sunnyvale
• Units: 147
• Price Per Unit: $465,986
• Seller: Corebridge Real Estate Investors
• Buyer: John Atwater - Prime Finance
• Acquisition Gain: $41,600,000 since 2014

John Atwater, representing Prime Finance, undertook this acquisition from Corebridge Real Estate Investors, marking a significant transaction within the multifamily market of Silicon Valley. The deal showcases the ongoing demand for properties in the area amid high housing costs.