$15.645M in financing secured for 2630 8th Street in Berkeley, California

SAN FRANCISCO, May 14, 2024 -  JLL Capital Markets announced today that it arranged $15.645 million in financing for 2630 8^th St. in Berkeley, California.

JLL worked on behalf of the borrower, Cobalt Investment Partners, and arranged the loan from Berkeley Partners.

The project plan is to redevelop the vacant building into high-end R&D/Advanced Manufacturing space which is in short supply in this market.

The property is centrally located in West Berkeley's industrial district which is conveniently positioned off I-80/I-580. Over the last few years, Berkeley has become a regional leader in high tech manufacturing, commanding the highest rents and attracting the best tenants in all of the East Bay.

The property benefits from well-developed transportation networks in the area, including highways, ports and airports, which facilitate the movement of goods and materials. Proximity to the Port of Oakland, one of the largest ports on the West Coast, further provides manufacturers with efficient access to international markets and supply chains. The East Bay Area hosts a diverse range of industries, including biotechnology, green technology, food tech and more.

The JLL Capital Markets team was led by Senior Director Erik Hanson and Director Ethan Habecker.

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.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.