$45M financing secured by JLL Capital Markets for 225-bed Garden Village student housing in Berkeley, CA

  

 Annie Rice

LOS ANGELES, CA –  JLL Capital Markets has secured a $45 million acquisition financing for Garden Village, a 77-unit student housing community in Berkeley, California.

 

JLL represented the borrower, Hawkins Way Capital, in securing the two-year, floating-rate loan through Limekiln Real Estate Investment Management, LP.

Brandon Smith

The property will be operated as the FOUND Study Southside Berkeley and will be managed by FCL Management, as an operator of successful properties across select cities in the U.S., aligning with Hawkins Way Capital’s strategy to maximize value in prime student housing markets.

 

The financing package includes an initial funding of $36 million, with an additional $9 million available for future funding.

Gyasi Edmondson.

 Garden Village, situated just three blocks from the University of California, Berkeley campus at 2201 Dwight Way, offers a prime location for students.

 

Built in 2016, the mid-rise urban apartments offer a mix of two- and four-bedroom floor plans. Spanning 64,301 square feet, the property comprises 18 buildings across 0.62 acres.

Garden Village, a 77-unit student housing community in Berkeley, CA

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Brandon Smith and Annie Rice and Director Gyasi Edmondson.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

  

 

 CONTACT

Gréta Kieras​​​​

Senior Associate, Public Relations JLL Capital Markets

1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com