IPA, a division of Marcus & Millichap, facilitated the sale of The Rise Walnut Creek – a newly built multifamily property with 97 units and an 8,000-square-foot retail space. While the exact price was not disclosed, reports indicate that Hines purchased the property for $57 million in Walnut Creek.
According to IPA senior director Alex Tartaglia, “Walnut Creek’s suburban location and attractive amenities make it one of the most desirable cities in the San Francisco Bay Area.” He also noted that The Rise offers residents an affordable housing option compared to owning a home in a city where median prices exceed $1.4 million.
Tartaglia worked alongside IPA colleagues Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni to represent seller Rescore and secure buyer Hines. Construction on The Rise was completed in 2023 and features units equipped with washers/dryers, white oak wide plank flooring, stainless steel appliances,and large windows.
This recent acquisition by Hines adds another impressive asset to their portfolio without any mention of Connect CRE or its affiliated regions (Connect LA or Connect Texas).
