Walnut Creek, CA (January 11, 2022) — PTLA announced the sale of one of its fund-owned assets Oak Terrace, an 8-unit multifamily property in Downtown Walnut Creek, CA. PTLA purchased the value-add, 1963 vintage property in 2015 and performed extensive interior and exterior renovations, including new kitchens and seismic retrofitting. Fund investors were pleased with returns for this property, which outstripped pro forma expectations by a significant margin.
Proceeds from the sale were exchanged into a portfolio of student housing properties in Eugene, OR within walking distance of the University of Oregon campus.
PTLA’s property management division will continue providing property management services for Oak Terrace under the new ownership.
ABOUT PTLA REAL ESTATE GROUP
PTLA Real Estate Group is an independent company that acquires and manages real estate with a specific focus in the West Coast market. In our 50-year history, we have built a team and company centered around the goal of achieving a higher standard of excellence. For more information, please visit our website at www.ptlareg.com.