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Walnut Creek Multifamily Portfolio Trades

WALNUT CREEK, CA—Decron Properties, bullish on the Bay Area, has acquired Creekside Glenn and Cypress Creek properties for $63 million.

By David Phillips | Updated on January 29, 2015

WALNUT CREEK, CA—Continuing its expansion into the Bay Area, Decron Properties has acquired a 251-unit apartment portfolio in Walnut Creek for $63 million.

The portfolio consists of the 152-unit Creekside Glen complex and the 99-unit Cypress Creek complex, both located within a mile of downtown Walnut Creek and adjacent to the Walnut Creek BART Station.  Decron plans to invest up to $16 million to upgrade the early 1960s-vintage properties.  The purchase falls on the heels of Decron’s recent acquisition of a 187-unit garden-style apartment community in Mountain View for $86 million.  The Los Angeles-based investment firm is nearly halfway to its goal of buying $350 million of apartment properties in the San Francisco Bay Area this year.

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