JLL Capital Markets announced that it has arranged the $5.2 million acquisition financing for 12 Panoramic Way, a 13-unit, six-story student housing community located near the campus of University of California, Berkeley.
Built in 1948, 12 Panoramic Way features one- and two-bedroom units, averaging 670 square feet. As the property has been owned by the same family for 40 years, Valiance will undergo a value-add business plan that improves the quality and amenities of the entire property.
The property is a 25-minute walk from the Berkeley Downtown BART station, providing access to San Francisco, Oakland and Silicon Valley, and there are a total of four transit stations within a block of the community. In addition, the location provides easy highway access and is within close distance to a ferry line from Jack London Square that shuttles passengers to San Francisco.
JLL worked on behalf of the borrower, Valiance Capital, to secure the loan through Knighthead Funding. The JLL Capital Markets Debt Advisory team was led by Senior Director Rick Salinas, Director Jonah Aelyon, Vice President Sarah Murphy and Analyst Will Bond.
“Valiance’s local presence in Berkeley has enabled them to forge strong industry relationships in the area and subsequently acquire well-located, privately-run student housing communities. We look forward to watching them implement their business plan and thank Knighthead for another strong closing experience,” said Aelyon.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
