Hudson McDonald Secures $60 Million Loan For Two Berkeley Multifamily Assets

Two multifamily assets located at 1988 Martin Luther King Junior Way and 2301 Durant Avenue in Berkeley have secured refinancing. The assets comprise a mixed-use property and student housing with a total of 193 units, specifically including the 148-unit New Californian and the 45-unit Metropolitan dorm-style housing community. The refinancing involves a loan amount of $60 million with a ten-year fixed-rate term, aimed at supporting properties positioned near UC Berkeley, reflecting strong demand for retail and student housing in the area.

Summary of transaction details:

• Property Type: Mixed-use & Student Housing
• Transaction Amount: $60,000,000
• Units: 193
• Landlord: Hudson McDonald
• Brokers: Michael Walker, Jesse Weber, Brad Zampa & Andrew Behrens - CBRE
• Loan Terms: Ten-year, fixed-rate
• Market: Berkeley

The loan was arranged by CBRE, reflecting robust investor confidence in Berkeley’s supply-constrained submarket. The brokerage team consists of Michael Walker, Jesse Weber, Brad Zampa, and Andrew Behrens, who all played crucial roles in facilitating this refinancing deal for Hudson McDonald.