CBRE Brokers Sale of Development Site for 232-Bed Student Housing Project Near UC Berkeley

by Katie Sloan

Berkeley, Calif. — CBRE has arranged the sale of a 0.43-acre development site at 2587 Telegraph Ave. in Berkeley, approximately five blocks south of the University of California, Berkeley campus. 2565-2589 Telegraph Black LLC, a local private investor and related party of Anchor Valley Partners, sold the asset for an undisclosed price. An undisclosed buyer plans to build a 232-bed student housing development on the site. The project is approved and entitled for an eight-story, 112,562-square-foot mixed-use building. Upon completion, the community will offer studio, four-, five- and six-bedroom units, including six affordable housing units. Additionally, the finished project will include 2,902 square feet of ground-floor commercial space, 5,105-square-foot of outdoor space, a fitness room, study pods and bike parking. Keith Manson, Zachary Greenwood and Mac Watson of CBRE’s Oakland office represented the seller in the transaction.

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