Mystery investor buys nearly 60 acres in South Bay hills from Arrillaga trust

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Mystery investor buys nearly 60 acres in South Bay hills from Arrillaga trust
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A mystery investor has bought big chunks of open space in the Palo Alto area.

PALO ALTO — A mystery investor has paid about $20 million for big chunks of hilly land in the Palo Alto area that had been owned by the late John Arrillaga, a Silicon Valley real estate legend.

Fierce Sunrise paid about $20.7 million for eight parcels, which are along a private road called Tierra Arboles in Palo Alto, the county real estate records show.

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