Citibank Forced To Resume Lending On Failed Mall Project

November 18, 2009

Tweet If a court in New York can come to this conclusion, can a court in California come to the same? That would probably be something Peter Pau and RREEF, developers behind the Sunnyvale Town Center that is headed to foreclosure want to know. Regardless, this is a huge decision by the NY court because [...]

Hammer Dropping on Sunnyvale Town Center

September 9, 2009

Tweet Wachovia will be pursuing foreclosure of the massive Sunnyvale Town Center project. Meanwhile, contractors and subs have lined up and filed liens against the massive Sunnyvale project – and DevCon, the general also has filed to force a sale. Wachovia has about $120M into the deal, while RREEF and Sand Hill have about $200M [...]

Lobbying Congress For Help

May 22, 2009

Tweet Absolutely Classic: U.S. Rep. Zoe Lofgren, D-San Jose, sent letters to Kenneth Lewis, president of the Bank of America, and John Stumpf, president of Wells Fargo, dated May 7, asking them to explain why they refused to give Pau and partner RREEF a $391 million construction loan. “Although I understand and respect your position [...]

Sunnyvale City Center In Trouble – Developer Wants To Convert to Public-Private Partnership!

May 12, 2009

Tweet The developers behind Sunnyvale City Center have run into a brick wall as far as financing is concerned, and now they want the government’s help to get the project back on track. The Mercury News is quoting Peter Pau, the principal behind Sand Hill Property Company as wanting the city to essentially act as [...]

Apple Leases 60K SF Cupertino Landing Office Building; Blue Coat Sublease Next?

August 1, 2008

Tweet It’s been confirmed that the tenant taking Sand Hill Property companies 60K SF Cupertino Landing office development is Apple Computer. We first heard about the brewing deal early last month. The 3-Story, ~60,000 square foot building was the site of the former Any Mountain sportings goods store. The owners at the peak of the [...]