In its second mobile park purchase in just as many months, Washington, DC -based investment and asset management firm Carlyle Group paid $151,521,000 for an 85-acre Plaza Del Ray mobile park in Sunnyvale. The deal closed on October 23rd, according to public records.
The park is located in the northwest corner of what is known to be the Golden Triangle of Silicon Valley. It sits roughly a mile east of the Moffett Federal Airfield, less than a mile from Jay Paul’s soon-to-be Google-occupied Moffett Place. It is within the same or similar distance from North San Jose’s burgeoning development region where several new developments are under way, where Apple Computer just purchased a number of assets and the home of the new Levi’s Stadium in Santa Clara.
Plaza Del Rey was sold by the descendants of the Engdol family, who had developed the park in the early 1970s. No plans have been revealed about the future of the park, and the city of Sunnyvale has not received any proposals at this time.
The Carlyle Group is a NASDAQ-traded private equity firm based in Washington, DC. It was founded in 1987, and it lists its main products as leveraged buyouts, growth capital, energy, energy lending, structured credit and real estate. The firm manages nearly $36 billion in assets and produced a net income of $962 million on revenue of nearly $3 billion. It has 1,650 employees.