Partnership Nabs Two MF Properties

SUNNYVALE, and PACIFICA, CA-The Canyon Catalyst Fund and San Francisco-based Sack Properties have made two investments in the San Francisco area, acquiring a 116-unit garden-style apartment community in Sunnyvale and a 44-unit multifamily property in Pacifica with views of San Francisco Bay. Both will undergo a series of improvements over the next year.

Located in the heart of Silicon Valley, 720 North sits on four acres just east of highway 101 in Silicon Valley, within close range of several large employers including Lockheed Martin Space Systems, Yahoo and Juniper Networks, as well as the Caltrain commuter rail. The class B apartment community includes 17 separate buildings with a mix of studio, one-bedroom and two-bedroom apartments that feature large living areas. The team’s property improvement program will focus on addressing deferred maintenance and upgrading common areas by installing new landscaping, improving the community’s three pools, creating a new dog park and purchasing new fitness equipment. Individual units will also be renovated as they turn over.