CDL sells Silicon Valley multi-family residential asset for US$143.5 mil

Jovi Ho11-20

The sale price for 1250 Lakeside Drive in Sunnyvale, California is based on its net lettable area of 201,750 sq ft. The residential asset is located next to the upcoming M Social Hotel Sunnyvale.City ...

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The residential asset is located next to the upcoming M Social Hotel Sunnyvale.City ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/property/cdl-sells-silicon-valley-multi-family-residential-asset-us1435-mil?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CDL sells Silicon Valley multi-family residential asset for US$143.5 mil</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCDL sells Silicon Valley multi-family residential asset for US$143.5 mil\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-20 00:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/property/cdl-sells-silicon-valley-multi-family-residential-asset-us1435-mil?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Jovi Ho</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The sale price for 1250 Lakeside Drive in Sunnyvale, California is based on its net lettable area of 201,750 sq ft. The residential asset is located next to the upcoming M Social Hotel Sunnyvale.City ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/property/cdl-sells-silicon-valley-multi-family-residential-asset-us1435-mil?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EOI","symbol_name":"Eaton Vance Enhanced Equity Inco","start_time":0,"source_url":"https://www.theedgesingapore.com/news/property/cdl-sells-silicon-valley-multi-family-residential-asset-us1435-mil?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2585192183","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/news/property/cdl-sells-silicon-valley-multi-family-residential-asset-us1435-mil?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2585192183","pubTimestamp":1763569060,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The sale price for 1250 Lakeside Drive in Sunnyvale, California is based on its net lettable area of 201,750 sq ft. The residential asset is located next to the upcoming M Social Hotel Sunnyvale.","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EOI":"Eaton Vance Enhanced Equity Inco","C09.SI":"城市发展","GDV":"GDV股息收入基金","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","BK6098":"多样化房地产活动","CDL":"VictoryShares US Large Cap High Div Volatility Wtd ETF","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","BK6512":"房地产股"},"translate_title":"CDL以1.435亿美元出售硅谷多户住宅资产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EOI":1,"C09.SI":1.5,"CDL":1.5,"GDV":1},"content_text":"The sale price for 1250 Lakeside Drive in Sunnyvale, California is based on its net lettable area of 201,750 sq ft. The residential asset is located next to the upcoming M Social Hotel Sunnyvale.City Developments’ (CDL) wholly-owned subsidiary, Millennium & Copthorne Hotels, has completed the divestment of a multi-family residential asset in the US for US$143.5 million ($186.8 million) to a US-based institutional investor, according to a Nov 20 bourse filing.\nThe sale price for 1250 Lakeside Drive in Sunnyvale, California — part of the larger Silicon Valley area — is based on its net lettable area of 201,750 sq ft. \nThe property was launched for sale in May via an expression of interest (EOI) marketed by Colliers USA that closed in July. The group entered into the transaction with the buyer in October. According to CDL, the EOI attracted “strong interest” from local property companies and REITs. \nThe property is just minutes from the headquarters and offices of major tech companies like Apple, Google, Amazon and Nvidia.  \nFormerly the site of Four Points by Sheraton Sunnyvale, the group redeveloped the 385,000 sq ft freehold site into a mixed-use project comprising the 250-unit residential property (1250 Lakeside) and the upcoming 263-room M Social Hotel Sunnyvale.\nCompleted in 2021, 1250 Lakeside offers apartments ranging from studios to one- and two-bedroom units. \nAdjacent to 1250 Lakeside, the US$118 million M Social Hotel Sunnyvale is being developed with completion expected in 2H2026. \nCDL group CEO Sherman Kwek says the sale of the “non-core, standalone asset” in the US with “limited operational scale” in the multi-family space “enables [CDL] to reduce gearing and redeploy the capital to maximise shareholder returns”.\n“Since privatising Millennium & Copthorne Hotels in 2019, we have gradually adopted a more agile approach to optimise its portfolio, unlocking value from non-core and mature assets, enhancing financial flexibility and driving harmonisation,” adds Kwek in a statement. “This includes the divestment of various hotels in locations such as South Korea, the UK and the US, the collective sale of Tanglin Shopping Centre in Singapore as well as the deconsolidation of CDL Hospitality Trusts, which all resulted in substantial gains for the group.”\nFollowing this divestment, the group’s global living sector portfolio comprises approximately 7,600 multi-family units and student accommodation beds across Singapore, Japan, the UK and Australia, with a total gross development value (GDV) of approximately $3.7 billion.\nCDL shares closed 2 cents higher, or 0.28% up, at $7.22 on Nov 20. CDL shares are up some 41% year to date.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2585192183","isCrawlerRequest":true}