WALNUT CREEK, CA - Northwestern Mutual has acquired The Arroyo, a luxury apartment project currently under construction in downtown Walnut Creek, CA. Terms were not disclosed.
The six-story, 100-unit complex will be an exciting addition to 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.
"The Arroyo is a first-class project that represents another opportunity for us to invest in one of the most favored and growing communities on the West Coast," said Jory Halperin, director of Northwestern Mutual Real Estate.
Halperin added that Northwestern Mutual's strong real estate presence on the West Coast is an important element of the company's diversified investment portfolio producing gains for the company's policy owners.
Northwestern Mutual Real Estate is the real estate investment arm of Northwestern Mutual and one of the largest real estate investors in the nation with investments in commercial mortgage loans and equities across all major property types.
An essential ingredient in maintaining Northwestern Mutual's financial strength and ability to deliver value to it policy owners is the performance of the company's $195 billion general account investment portfolio, whose assets back the company's insurance and annuity products.
Source: Northwestern Mutual / #Apartments #Multifamily