Colliers arranged the sale of 1250 Lakeside, a 250-unit luxury multifamily community located in Sunnyvale, near the corporate headquarters of Apple, Meta, Alphabet and Nvidia. Peter Nicoletti and Will Mathews represented the seller.

According to published reports, the buyer was Essex Property Trust, which paid $143.5 million to acquire the property from Singapore-based City Developments Limited. CDL developed 1250 Lakeside and is slated to open an adjacent lodging property, the 263-key M Social Hotel Sunnyvale, in the second half of 2026.

1250 Lakeside was completed in 2021 and offers a mix of studio, one-, and two-bedroom units averaging 807 square feet. “Well-located in the heart of Silicon Valley, 1250 Lakeside is uniquely positioned to benefit from constrained supply, increasing demand, and immediate proximity to the largest tech companies in the world,” said Matthews. “This asset is well-equipped to capture rent growth and maintain its competitive edge in one of the nation’s most resilient markets.”

Get ready to hear from the Southeast’s most influential multifamily leaders on December 4^th at Connect Southeast Multifamily. Join us to hear from and connect with the power players shaping the region’s growth — from top developers and investors to the most prominent lenders, owners, and advisors who are defining the next wave of opportunities. www.ConnectSEMF2025.com