Oaktree Funds Provide Refi on UC Berkeley Student Housing
JLL Capital Markets recently arranged refinancing for IDENTITY Logan Park, a two-phase student housing community totaling 720 beds serving University of California, Berkeley students. JLL represented the borrower, Article Student Living, an operating platform of QuadReal Property Group, in securing financing with funds managed by Oaktree Capital Management, L.P.
Completed in 2023, IDENTITY Logan Park I and II are located at 2050 Durant Ave. and 2370 Durant Ave., 0.4 miles from UC Berkeley’s campus in downtown Berkeley. The properties offer direct access to campus resources and downtown Berkeley amenities, with BART providing 25-minute rides to San Francisco and connections to major Bay Area Fortune 500 employers.
Katy Mao, managing director for Oaktree’s Real Estate Debt strategy, said, “We are pleased to continue growing our relationship with JLL and Article Student Living by providing financing for this premier asset located in such a supply-constrained, high-barrier-to-entry market.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout