Tesseract Capital Group (TCG) is pleased to announce its recent acquisition of The Enclave Apartments, a 32-unit community located in Walnut Creek, CA. TCG successfully closed the transaction in accordance to the contracted COE date despite current capital market uncertainty. TCG worked with Dwight Mortgage Trust and CBRE’s Capital Markets Team to successfully complete the transaction.
“In an extremely competitive environment… Tesseract Capital Group was able to separate themselves from the rest of the pack as the most qualified and best buyer.”
Keith Manson, Senior Vice President, CBRE
The Enclave Apartments was acquired on November 30th for $10M. The property is comprised of 24,648 SqFt of Net Rentable Area with a desirable unit mix and large floorplans. TCG plans to maximize its use through its signature value-add execution—adding either a bedroom, den/office, and/or bathroom to many of the units.
The community is situated less than a mile away from the Pleasant Hill BART Station, which provides a convenient commute for over 400,000 Bay Area professionals. The city’s well-known, high-end communities give Walnut Creek the reputation of being a quiet and protected community with a highly regarded school system.