Prometheus Buys Bellflower in Sunnyvale for $55.9M
Prometheus Real Estate Group acquired the 93-unit Bellflower community from Sack Capital Partners at $601,075 per unit.
Updated on Nov. 3, 2026 in Commercial
Prometheus Real Estate Group bought Bellflower, a 93-unit community in Sunnyvale, Calif., for $55.9 million. Seller Sack Capital Partners had purchased the property in 2021 for $49 million.
Why it matters
The sale reflects continued investor demand for Sunnyvale apartments as Silicon Valley's vacancy rate tightened. The price represents a 14.1 percent increase over the 2021 purchase.
The sale price works out to $601,075 per unit, compared with $526,881 per unit when Sack Capital bought the property in 2021 with a $27.3 million Wells Fargo acquisition loan. Terms of the new buyer's financing were not disclosed.
The players
Prometheus Real Estate Group
Prometheus Real Estate Group is a real estate investment firm that acquired Bellflower in this transaction.
Sack Capital Partners
Sack Capital Partners is a real estate investment firm that sold Bellflower after acquiring it in 2021.
The details
Bellflower, located at 678 Bellflower Ave. and opened in 1969, was sold by Sack Capital Partners, which had bought it from a private individual in 2021. The price figures are based on Yardi Matrix information.
Timeline
1969: Bellflower opened at 678 Bellflower Ave.
2021: Sack Capital Partners purchased the property for $49 million.
Third quarter 2026: Silicon Valley vacancy fell to 2.7 percent.
Market Landscape
Silicon Valley's Q3 vacancy rate fell to 2.7 percent, down 10 basis points from the prior quarter, while average rent rose 8.6 percent year-over-year to $3,661. Bellflower's sale sits alongside KKR's August purchase of the 636-unit Lynhaven from Greystar for $346.5 million, or $544,811 per unit.
For Sunnyvale renters, rising per-unit sale prices and a 2.7 percent vacancy rate point to a tight rental market with limited availability. Average Silicon Valley rent of $3,661 is up 8.6 percent from a year earlier, which affects monthly housing budgets.
The takeaway
Tight vacancy and rising rents in Silicon Valley are pushing property values up, which can translate into higher housing costs for local residents. Renters in Sunnyvale should factor these market conditions into their budgeting and lease decisions.
Further reading
For more on the local property market, explore Commercial listings and deals in Sunnyvale.
Source note: This article includes information reported by 301 Moved Permanently.
