A big chunk of Sunnyvale land has been grabbed by a major real estate investor in a deal that helps a large residential complex advance toward being built.
Hearthstone Inc., acting through an affiliate, has bought two sites in Sunnyvale, paying $98.5 million for the 11.8 acres, according to documents filed on Oct. 21 with the Santa Clara County Recorder’s Office.
The 11.8 acres are expected to accommodate the development of 329 condominiums or townhomes that would be offered for sale to individual homeowners. Hearthstone is based in the Los Angeles County city of Calabasas. In November 2021, Olympic Residential paid slightly over $35 million for that property, which is at 401 Willow Ave.
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