SUNNYVALE, CALIF. — JLL Capital Markets has arranged the sale of and acquisition financing for Citra, a 147-unit community in Sunnyvale. JLL represented the undisclosed seller. The buyer was Prime Residential, a San Francisco-based multifamily owner and operator. JLL Real Estate Capital, a Freddie Mac Optigo lender, also provided a $44.2 million loan for Prime Residential.
Citra, located at 745 S. Bernardo Ave., was developed in 1968 and renovated in 2019. The garden-style property is comprised of one- and two-bedroom units and includes such amenities as a half-acre, landscaped terrace surrounding a pool, a fitness center with a spin room, outdoor barbecue and picnic areas, a business center, children’s playroom and an outdoor play structure.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Ryan Wagner, Brandon Geraldo and Matt Kroger along with Director Fatai Alashe. JLL’s Debt Advisory team was led by Executive Managing Director Charles Halladay, Director Jonah Aelyon, Vice President Sarah Murphy and Associate Joseph Choi.