European manager acquires second office in Sunnyvale, Calif.

Union Investment, one of Europe’s leading investment managers, has acquired The Catalyst office building in Sunnyvale, Calif.

Built in 2020, The Catalyst is one of the newest trophy office buildings in this popular submarket. The latest U.S. acquisition was completed on behalf of Union Investment Real Estate’s open-end real estate fund, Unilmmo: Europa. The purchase price was not disclosed.

“The Catalyst, our second acquisition in the Silicon Valley, fits extremely well within our continued U.S. growth story,” said Matthew Scholl, executive director and head of investment management Americas at Union Investment. “Sunnyvale is a very attractive location situated within the valley, benefiting from its close proximity to the other desirable, but more expensive, submarkets of Palo Alto and Menlo Park. Sunnyvale also benefits from its adjacency to Stanford University, Santa Clara University as well as San Jose State, all of which offer Silicon Valley employers hig