Gemdale USA Sells Berkeley Multifamily Property For $66M With Cushman & Wakefield's Reps

Located at 2033 Blake St. in Berkeley, this multifamily property was recently sold in a closed transaction. The property consists of 84 units and is situated in the Berkeley market. Gemdale USA, the seller, enlisted the services of Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech from the Multifamily Advisory Group at Cushman & Wakefield to facilitate the sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $66,000,000
• Units: 84
• Price per Unit (PPU): $785,700

The sale of this multifamily property was completed on December 17, 2021. The transaction involved prominent individuals in the real estate industry, including Jason Parr, Scott MacDonald, John Hansen, Michael Bissada, and Sydney Ladrech from Cushman & Wakefield's Multifamily Advisory Group, who represented Gemdale USA. This transaction represents a significant deal in the Berkeley market.