Jackie Safier Of Prometheus Real Estate Group Acquires Multifamily Community In Sunnyvale For $55.9M

The property asset involved in the transaction is a multifamily community located at 678 Bellflower Avenue in Sunnyvale, California. The sale was completed for a total amount of $55.9 million, translating to approximately $601,075 per unit for the 93 units. This asset was originally built in 1969 and offers both two- and three-bedroom unit configurations along with community amenities, including two swimming pools and a fitness center.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $55,900,000
• Buyer: Jackie Safier - Prometheus Real Estate Group
• Seller: Jeff Smith - Sack Capital Partners
• Number of Units: 93
• Price Per Unit: $601,075

The acquisition was carried out by Jackie Safier representing Prometheus Real Estate Group, which indicates a strategic move in multifamily investments. The seller, Jeff Smith of Sack Capital Partners, previously purchased the asset for $49 million in 2021, leading to a notable appreciation of 14.1% in value within a short span.