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Prometheus Real Estate Acquires Silicon Valley Res Asset

6/04/20

Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200 Miller Ave, near the corner with Stevens Creek Blvd and a short distance from the Apple Park campus.

Built in 1963, Gardens of Fontainbleu features a fitness center, sauna, playground, bike storage, volleyball court, a community room, covered parking and landscaped grounds on over seven acres of land. Unit amenities include in-unit washer/dryers, walk-in closets, ceiling fans, remodeled kitchens, high-speed Internet, large balconies and patios and more. Rents range from around $2,600 to $4,600 per month.

Prometheus, based in San Mateo, purchased the asset through an affiliate, PREG Emerson.




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