Blackstone Buys Nvidia-Leased 134,200 SQFT Sunnyvale R&D Building for $99.6MM
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
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On the RET wire
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Computed from Real Estate Trail’s own tracked coverage
10-Megawatt Power Capacity Fuels Premium Pricing on Nvidia-Leased Sunnyvale Research Building A Sunnyvale research building that traded for just $31 million three years ago while sitting empty has now sold for more th…
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