Highland Realty Capital Arranges $28.2M Construction Loan For Student Housing In Berkeley, CA

The property involved in the transaction is a student housing located at 2440 Shattuck Ave in Berkeley, CA. It has a total square footage of 43,917 and is classified as a student housing asset.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $28,150,000
• Date: 10/28/2022
• Market: Berkeley, CA
• Brokers: Jeff Eliason & Leland Ortega - Highland Realty Capital
• Loan Type: Construction
• Loan Terms: 2-Years with Extensions, 85% LTC, Low Priced Bank Loan with Recourse Burnoff at CofO

The loan amount for the transaction is $28,150,000, and it is a construction loan. The loan terms include a 2-year duration with extensions, 85% Loan-to-Cost ratio, and a low-priced bank loan with recourse burnoff at the Certificate of Occupancy.