Sunnyvale Town Center Goes Into Receivership

The Business Journal is reporting that receivers and advisors have been named on the Sunnyvale Town Center project.

Jerry Hunt, president of Blake Hunt Ventures of Danville, and Quattro Realty Group were appointed as receivers.

Meanwhile, Wilson Meany Sullivan, developer of The 88 condominium tower in San Jose, and Federal Realty Investment Trust, the developer of Santana Row, will advise Wells Fargo Bank as it forecloses on the massive development.

Things should go pretty quickly from here. It’s a big project and not for everybody, but the likes of CIM Group will probably take a stab at it.

[via BizJournal]

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