October 29, 2024
(press release)
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SAN FRANCISCO, Oct. 29, 2024 – JLL Capital Markets announced today that it has secured construction debt and equity for The Valiant, an 83-unit, 262-bed class A+ purpose-built student housing community in Berkeley, California. JLL worked on behalf of the sponsors, Valiance Capital and The Martin Group, in securing construction debt through Kennedy Wilson and equity through Canyon Partners Real Estate. The Valiant, a planned student housing property at 2538 Durant Ave., will offer an ideal location for university life, just one block from UC Berkeley. It will be situated near diverse dining options and entertainment, providing excellent transportation access. The Berkeley Downtown BART station will be just an eight-minute bike ride away, connecting students to San Francisco, Oakland and Silicon Valley. With nearby transit stations, parking garages and easy highway access, The Valiant will ensure students can effortlessly explore the Bay Area while enjoying the vibrant Berkeley community. UC Berkeley, consistently ranked as the #1 public university worldwide by U.S. News & World Report and Forbes, attracts students with its academic excellence, competitive programs, strong Bay Area job market connections and reputation for producing successful company founders. The university's projected 20% enrollment increase from 2021 to 2036 is intensifying demand for convenient, near-campus housing options in an already robust residential market, underscoring the need for developments like The Valiant. The Valiant will be an eight-story student housing community in Berkeley slated for completion prior to the start of the 2026-2027 academic year, offering 80,829 square feet of space, including 54,276 square feet of residential area. Designed to enhance student life, the building will feature numerous curated amenities including a spacious common area study lobby, fitness center, a rooftop deck lounge with panoramic views, various gathering spaces, private study lounges, high-speed Wi-Fi and secured bike stations. The Valiant's controlled access and keyless entry systems will provide a secure, cutting-edge living experience for UC Berkeley students. JLL Capital Market’s Debt Advisory team was led by Director Jonah Aelyon, Senior Director Rick Salinas, Vice President Sarah Murphy and Analyst Allie Repaskey. JLL Capital Markets 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. For more news, videos and research resources, please visit JLL’s newsroom. Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413. About JLL For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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