Colliers Brokers $19.5M Sale of Walnut Creek Apartment Complex

The Estopinal Family Partnership has purchased Vista Terrace Apartments, a 40-unit multifamily property in Walnut Creek, CA. Rich Martini of Colliers Capital Markets Group represented the seller, Legacy PTLA Vista Terrace, LLC in the $19.55 million sale. The $488,750 price per unit was a Walnut Creek record for similar vintage apartment complexes with 10 or more units.

“The Walnut Creek submarket continues to attract significant interest from apartment investors in spite of the ever-changing capital markets landscape and economic uncertainty. The appeal of the Vista Terrace offering was its A+ downtown location coupled with its desirable mix of mostly two- and three-bedroom units along with the completed renovation of nearly all of the apartments,” said Martini in a news release.

“We achieved a great return for our investors with this transaction,” said Peter Wilson, President of PTLA Real Estate Group. “We are very pleased with the outcome.”