WALNUT CREEK, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Rise Walnut Creek, a 97-unit community in Walnut Creek, about 16 miles east of Oakland, California. Hines purchased the asset from Rescore for an undisclosed price. Alex Tartaglia, Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA represented the seller and procured the buyer in the deal.
The Rise Walnut Creek was completed in 2023. Units come in studio, one-, two- and three-bedroom layouts. Apartments feature washers and dryers, wide plank flooring and stainless-steel appliances. Amenities include a roof deck, fitness center, walk-in storage lockers and a subterranean parking garage with EV charging stations. The property also includes 8,000 rentable square feet of retail space.