GILROY — A big Gilroy vineyard totaling more than 300 acres has been bought by a group of local buyers.
The San Jose-based buying group paid $7.8 million for San Ysidro Vineyards, which is located along Pacheco Pass Highway in Gilroy, according to documents filed on Aug. 11 at the Santa Clara County Recorder’s Office.
San Ysidro Vineyards produces grapes for both red and white wines.
The buying group is an affiliate of San Jose-based Valuable Capital Investment Architecture, state and county business records show. The principal executives are Fremont-based Shan Liu, San Jose-based Tianxing Wang and Richmond-based Yu Yan, state and business documents show.
The just-sold San Ysidro Vineyards, located at 3385 Pacheco Passway Highway east of Gilroy, totals about 310 acres, documents at the County Assessor’s Office show.
The buyers obtained $3.2 million in financing for the purchase from Utah-based lender Tycor Management, according to the county real estate records.
The seller was San Ysidro Vineyards, a unit of United California Citrus, an agriculture company based in the Fresno County city of Sanger.
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In February, United Citrus sold the 187-acre San Felipe Vineyard at 210 Walnut Avenue in Gilroy to Pura Revocable Trust and individual investors Debra Loos and Paul Rovella.
San Felipe Vineyards was bought for $3.4 million, according to grant deeds filed with the County Recorder’s Office.
In 2021, 26 vineyards located in the California Central Coast winegrowing region were bought, according to estimates produced by Jenny Heinzen Real Estate, a company that specializes in vineyard and winery real estate deals. In 2022, 30 California Central Coast vineyards were bought, the real estate firm reported.
Over the first seven months and one week in 2023, just five vineyards have been bought in the Central Coast region, Jenny Heizen Real Estate reported. Extrapolated over a full year, that could work out to eight or nine vineyard property deals this year, which would be a sharp reduction from the prior two years.
The just-sold San Ysidro and San Felipe vineyards have been producing grapes since 1948, according to the United Citrus California website.
“The vineyards produce both pinot noir and chardonnay varietals for supply into long-term relationships with premium California wine producers,” United Citrus states on its website.