SAN JOSE — A big office building in north San Jose has been bought by a family of California billionaires in a deal worth more than $80 million, a transaction that hints at sturdy interest in Silicon Valley real estate.
The Resnick-controlled affiliate bought the building in a deal worth about 84.9 million, including the price paid for the building as well as a loan that the billionaires assumed as part of their purchase, according to documents filed on Nov. 23 with the Santa Clara County Recorder’s Office. In 2021, an affiliate of Thor Equities bought the building for $50.5 million. Excluding the effect of the loan, that means the value of the building has risen 6.9% over a span of slightly under two years.
Oh no…is this legal in Kalifornia? Are the mean billionaires allowed to do this?
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