Record-Breaking Sales

Despite *gestures broadly*, the last sixty days have seen two of the largest commercial sale transactions in recent history. In mid-December, Global Mutual, an international investor, purchased the Amazon building in downtown Santa Barbara - where the "Alexa" technology is developed - for a whopping $35 million. Just a few weeks later, the AppFolio campus at 50, 70 & 90 Castilian in Goleta traded hands at over $60 million. What do these two sales have in common ? Both buildings sold in recent years (2018/2019) for much lower numbers ($18.5M/$42M). The owners then stabilized the properties by putting long-term leases in place and sold them off at huge returns.