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SUNNYVALE, CALIF. — Laguna Niguel, Calif.-based Raintree Partners has acquired its first multifamily property. The firm purchased Trellis Square Apartment Homes, a 204-unit luxury apartment complex in Sunnyvale, for $38.25 million. Located at 963 E. El Camino Real, the property offers one- and two-bedroom units, a fitness center, a spa and a swimming pool. William Huberty and Matthew Holmes of CB Richard Ellis’ San Francisco office represented the seller, an affiliate of Northwestern Mutual, in the transaction. Financing was provided by Fannie Mae through Troy Tegeler and Bethany Bailey of CBRE Capital Markets.