Gemdale USA Divests of Blake at Berkeley Apartment Community in Bay Area for $66M

BERKELEY, CALIF. — Gemdale USA has completed the sale of Blake at Berkeley, a multifamily property located at 2033 Blake St. in Berkeley. An undisclosed buyer acquired the community for $66 million, or $785,700 per unit.

Completed in December 2021, Blake at Berkeley features 32 studio, 34 one-bedroom, 16 two-bedroom and two live-work units. Community amenities include a central courtyard, a roof deck with 360-degree views, two large common-area patios, coworking spaces and garage parking.

Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech of Cushman & Wakefield’s Multifamily Advisory Group represented the seller in the transaction.