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Apple-Leased Cupertino Gateway Sells for $165M

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An affiliate of Downtown Properties has sold Cupertino Gateway to an affiliate of Prudential Real Estate Advisors just two years after purchasing it. The three-building, 217k SF property was sold for $165M, a healthy markup from Downtown’s purchase price of $114.5M in September 2013. The buildings are at 10100-10200 North Tantau Ave, across the freeway from the still under-construction Apple Campus 2. Apple has several other buildings under lease in the area. Downtown is a US affiliate of Hong Kong-based Gaw Capital Partners, which has been active in several large markets across the US. [SVBJ]