WALNUT CREEK, CA—The Arroyo, a luxury apartment project currently under construction at 1250 Arroyo Way, has been acquired by Northwestern Mutual Real Estate. Terms were not disclosed. The six-story, 100-unit complex is being constructed in the downtown area and is one of multiple investments Northwestern Mutual has made in Walnut Creek. The project is scheduled to be completed in late 2015.

Jory Halperin, director of Northwestern Mutual Real Estate, tells Globest.com: "This investment is compelling for a number of reasons. Walnut Creek is the top market in the East Bay and the Arroyo will be the newest and highest quality project in the market. Combining those factors with a general lack of supply across the Bay Area makes this an exciting investment for Northwestern Mutual."

The apartment complex will have views of Diablo Valley, along with spacious floor plans, walk-in closets, private balconies, full-sized washers and dryers, stainless steel appliances, quartz countertops, mahogany entry doors, resort-style pool and spa, lounge cabanas, covered daybeds, firepits and gas barbecue grills and an outdoor entertaining kitchen. The communal Arroyo Club will include a WiFi-enabled virtual office, co-working and meeting space, conference capabilities, refrigerated wine lockers, chef's kitchen and café-style seating. A Zen garden, water features, and a complimentary coffee and espresso bar are planned for the courtyard. In the fitness center, there will be Wi-Fi enabled virtual cardio, interactive training software, floor-to-ceiling windows, rooftop views, quiet space and yoga mats, a cedar-lined dry sauna and private showers.