Patrick Kennedy Of Panoramic Interests Secures $30M Construction Loan For Development Site In Berkeley

The asset involved in this transaction is a development site located at 1752 Shattuck Avenue in Berkeley. The property is intended for a 73-unit student housing project known as The Northside, which is set to be completed by March 2026. The project will feature modern amenities and fully furnished units, catering specifically to the needs of students in proximity to UC Berkeley.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $30,000,000
• Lender: Bank Hapoalim (BHI)
• Landlord: Patrick Kennedy - Panoramic Interests
• Broker Representatives: Alex Witt & Jordan Angel - JLL
• Loan Type: Construction

JLL Capital Markets played a pivotal role in securing the $30 million construction financing through Bank Hapoalim for this project. The loan aims to facilitate the establishment of the student housing project in Berkeley's Gourmet Ghetto district, highlighting the collaboration between the lending institution and the developers.