San Mateo-based Acacia Capital continues to execute its strategy of acquiring multifamily campuses in the Western US, building a portfolio of properties it owns and operates that now totals more than 30,000 units.
The firm's latest deal involves the $62M purchase of the 124-unit Villa del Sol, a two-building complex in Sunnyvale, a transaction worth about $502K per unit.
The campus, located at 295, 355 and 395 East Evelyn Avenue, was sold by Palo Alto-based Pacific Urban Investors, according to a report in the Silicon Valley Business Journal. To finance the acquisition, Acacia secured at $32.5M loan from Fannie Mae through CBRE Multifamily Capital.
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