"A Walnut Creek apartment complex with hundreds of units has been bought by an East Coast real estate firm in a deal that points to sturdy prices for multifamily residential properties in the Contra Costa County city. The 285-unit Hanover Walnut Creek apartment property, located at 3050 Del Hombre, has been purchased for $163 million by a TA Realty affiliate, documents filed on Oct. 7 with the Contra Costa County Recorder's Office show."
"Here are some details of the recent deals: Hanover Walnut Creek, the latest large apartment complex to be bought in Walnut Creek, fetched a price of $571,900 a unit. Waymark was purchased for $530,700 a unit. The Rise, a 97-unit apartment property at 1380 North California Blvd. in Walnut Creek, was bought in May 2024 for $57 million. This price works out to roughly $587,600 a unit."
A TA Realty affiliate purchased the 285-unit Hanover Walnut Creek apartment at 3050 Del Hombre for $163 million. Two other recent Walnut Creek transactions include Waymark, a 358-unit complex bought for $190 million, and The Rise, a 97-unit property bought in May 2024 for $57 million. Hanover equates to about $571,900 per unit, Waymark about $530,700 per unit, and The Rise roughly $587,600 per unit. In both the Hanover and Waymark sales, the seller was the developer. TA Realty is Boston-based and holds diverse real estate asset types across sectors.
Read at www.mercurynews.com
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