Tristar Capital has bought Crossroads III in Sunnyvale for $290.7M from Rockwood Capital. The 15-acre office campus at 410 to 430 North Mary Ave. is fully leased to Apple, the Silicon Valley Business Journal reports. The three-building, 349k SF Class-A office property sold for about $831/SF. The building was managed by Dostart Development Co.
Natixis provided a $232.5M loan for the acquisition, according to REBusinessOnline.
This is Tristar’s first Silicon Valley acquisition. Tristar president David Edelstein said his firm is looking for value opportunities in Silicon Valley and other tech-centric markets.
JLL managing directors Erik Doyle and Will Connors and vice president Nichole Zanghi managed the transaction.
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