Cantor Fitzgerald Income Trust Acquires Apple Office Complex in Cupertino, California
August 2, 2021 | James Sprow | Blue Vault
On July 23, 2021, the Cantor Fitzgerald Income Trust, through the Operating Partnership, acquired an ownership interest in a two-building office campus located in Cupertino, CA at a contract purchase price of $63.75 million, exclusive of closing costs. The ownership interest in the property is a leasehold interest, each building is subject to a 60+ year ground lease and is held by a single purpose limited liability company (“SPE”) of which the Company owns 100% of the membership interests. The property was acquired from DeAnza DH Properties LLC . Seller is a third party and not affiliated with the Company or CFI.
The property is 100% leased to Apple Inc. The lease is net whereby the tenant is responsible for operating expenses, real estate taxes, insurance, repairs, maintenance and capital expenditures (excluding roof, structure and certain HVAC items), in addition to base rent.
The following table provides certain information about the Property:
Source: SECGo Back
Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!