BERKELEY, CALIF. — Barings has divested of Varsity Berkeley, a purpose-built student housing property in Berkeley. Hawkins Way Capital acquired the asset for an undisclosed price.
Within walking distance of the University of California, Berkeley campus, Varsity Berkeley offers 79 units totaling 263 beds in a mix of furnished and unfurnished studio, two- and three-bedroom floor plans with fully equipped kitchens and bathrooms that include washers and dryers. Community amenities include a rooftop terrace and sun deck, a recently renovated resident lounge, ground-floor courtyard with firepit and electric car charge.
Peter Katz and Salvatore Saglimbeni of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Tony Solomon served as Marcus & Millichap’s broker of record in California.