Blackstone’s Perform Properties Buys Nvidia-Leased 134,000 SQFT Sunnyvale R&D Building From PSAI for $94.15MM

Perform Properties, Blackstone Real Estate's operating company, paid $94.15 million for 350 Cobalt Way in Sunnyvale, roughly triple what PSAI Realty Partners paid for the then-empty building in early 2023. A $66.4 million loan from a group of life insurers led by Fidelity & Guaranty Life financed the purchase.