Pristine properties shift owners in all-cash deal
PALO ALTO, Calif. — A mysterious investor paid around $20 million for large tracts of hilly land in Palo Alto owned by the late John Arrillaga, a Silicon Valley real estate legend.
According to documents filed with the Santa Clara County Recorder’s Office on August 23, the buyer purchased the property through an affiliate called Fierce Sunrise LLC.
According to county real estate records, Fierce Sunrise paid approximately $20.7 million for eight parcels on Tierra Arboles, a private road in Palo Alto.
For many years, the property was owned by Arrillaga, a long-time real estate executive who rose through the ranks to become one of the Bay Area’s most successful and savvy developers, with a tenant roster that read like a who’s who of Silicon Valley corporate royalty, including Google and Apple.
Arrillaga, a multi-billionaire known for his philanthropy, died in January 2022 at the age of 84 after decades as a partner in Peery Arrillaga, a real estate firm he co-founded with fellow developer and multi-billionaire Richard Peery.
According to county records, John Arrillaga Jr. and Laura Arrillaga-Andreessen sold the property through a trust.
According to the property records, Fierce Sunrise LLC purchased the property with all cash.
The Fierce Sunrise entity’s manager went to great lengths to remain anonymous.
According to state business documents, the Fierce Sunrise entity used a Page Mill Road office location in Palo Alto as its mailing address and principal place of business. The address is home to a seasoned financial planning firm that serves Silicon Valley investors and entrepreneurs.
A review of many Silicon Valley property purchases reveals that the address is frequently used by high-net-worth real estate investors who do not want their identities revealed.
The newly purchased property is characterized by rolling hills, trees, and open spaces. It’s west of Foothills Nature Preserve and south of Portola Vineyards, just off Los Trancos Road.
It was unclear what kind of development, if any, might be permitted on the site. According to county assessment records, at least one parcel has a structure on it. However, the County Assessor’s Office did not provide any information about the structure.