Debt and equity arranged for Berkeley student housing project

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.

Valiance Capital is a Berkeley-based real estate investment firm specializing in value-add and ground up student-housing and multifamily properties. Valiance is a vertically integrated owner operator with over 1,000 beds under management in Berkeley. With a portfolio in excess of $300 million in Berkeley, aggregated across 26 acquisitions since 2010, Valiance is one of the most active market participants in the market. Valiance’s in-house property management arm, The Berkeley Group, is amongst the leading specialized student housing management firms in the market, with a nearly perfect 100% year-over-year occupancy, over the past decade. For more information visit: www.valiancecap.com.

The Martin Group is a real estate investment firm developing ground-up and value-add residential and mixed-use properties focusing on infill housing located near durable demand drivers in supply-constrained markets. Headquartered in Oakland, CA, The Martin Group has acquired and developed over 24 million square feet and over 20,000 residential units since its founding. For more information visit: www.themartingroup.com.

Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. The company owns, operates and invests in real estate through the balance sheet and through an investment management platform in the United States, United Kingdom and Ireland. Kennedy Wilson primarily focuses on multifamily and office properties as well as industrial and debt investments in the investment management business. For more information on Kennedy Wilson, please visit kennedywilson.com.

Founded in 1991, Canyon Partners Real Estate LLC (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately $26.1 billion in assets under management. Over the last ten years, Canyon has invested approximately $5.3 billion of debt and equity capital across over 180 transactions capitalizing approximately $21.2 billion of real estate assets, focusing on debt, value add and opportunistic strategies. With 30+ years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions and project stages (including development, transitional and distressed/workouts). For more information visit: www.canyonpartners.com.