Jagdeep Singh Bachher Of UC Investments Acquires Residence Inn Berkeley From Warren Fields For $175.8M

The Residence Inn Berkeley, a hotel asset located at 2121 Center Street in Berkeley, has been sold for $175.8 million, translating to approximately $531,000 per key for its 331 keys. This transaction adds a valuable property to the University of California’s extensive portfolio, which is valued at $190 billion.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $175,800,000
• Buyer: Jagdeep Singh Bachher - UC Investments
• Seller: Warren Fields - Pyramid Global Hospitality
• Keys: 331
• PPK: $531,118

Jagdeep Singh Bachher represents UC Investments in this acquisition, while Warren Fields represents Pyramid Global Hospitality in the transaction. The deal positions the University of California to potentially repurpose the hotel for student housing, an initiative under consideration for the downtown Berkeley location.