Apple’s property expansion in Silicon Valley is ongoing, as reports indicate the company is under contract for its third significant Bay Area purchase this year. Here are the specifics.
### $882 million in just over a month
According to sources familiar with the agreement, the *San Francisco Chronicle* reveals that Apple has reached an agreement to acquire the four-building Mathilda Campus located at 505–599 North Mathilda Avenue and 605 West Maude Avenue for $365 million.
Similar to previous acquisitions, Apple already leases most of the 663,000-square-foot facility and is utilizing three of the four buildings.
Just last month, Apple invested $350 million in the adjacent 615 and 625 North Mathilda Avenue properties, and concluded a $166.9 million agreement for the Cupertino Gateway complex located just south of Apple Park.
With this new acquisition, Apple’s total real estate expenditure in the Bay Area this year is approaching $900 million, contrasting the broader trend of reducing physical spaces in the post-COVID landscape, despite return-to-office initiatives bringing more employees back to the area.
In a statement shared with SiliconValley.com last month and reiterated to the *Chronicle*, Apple’s VP of Global Real Estate and Facilities, Kristina Raspe, stated:
> “The Santa Clara Valley has been home to Apple for more than 40 years, and we’re proud to continue investing in world-class facilities for our teams here.”
Interestingly, she did not confirm or deny the most recent acquisition, as it has not yet been finalized.
