Berkeley, CA $13,125,000 37 Unit Student Housing Acquisition & Conversion

Knighthead provided a $13.125mm first mortgage acquisition loan secured by a 5-story mixed-use property containing 37 residential units, over 4 retail units located in Berkeley, CA. The project is located two blocks (3-minute walk) from the University of California, Berkeley campus, in the Southside district, which is the highest pedestrian area of the UC Berkeley campus. The loan was underwritten to an ~57% “As-Stabilized” value.