CBRE Arranges $47M Loan for The New Californian Mixed-Use Site in Berkeley
BERKELEY, CALIF. — CBRE has arranged $47 in non-recourse financing for The New Californian, a mixed-use development in Berkeley. The property contains 148 apartment units and 15,700 square feet of retail space.
The New Californian is located at 1988 Martin Luther King Jr. Way, about three blocks from UC Berkeley. The project was originally developed in 2010 by Hudson McDonald, the borrower.
John Nelson, Michael Walker and Erik Franks of CBRE’s San Francisco office arranged the 10-year, fixed-rate loan.