ALISO VIEJO, CA and BERKELEY, CA — Academy West Investments (AWI), a Southern- California based real estate investment firm, has acquired University Park, a 97-unit student housing property located steps away from the UC Berkeley campus.
The 59,170 square foot mid-rise structure offers a mix of studios and 1- and 2- apartments with 112 beds. According to the company’s co-founder and executive, Tanya Muro, the company purchased University Park as a value-add opportunity offering investors the chance to increase rents through fully upgraded renovations and adding new beds.
“We thought the location of the property was unsurpassed since it’s within a 2 minute walk to campus and near downtown, a major transportation center and an arts and cultural district. UC Berkeley has a world class reputation as a university with growing enrollment and is in a supply-constrained housing market, “ said Muro. “We are excited about the potential of additional buildings and improvement of our units that we anticipate will command premium rents considering the demand for luxury housing within this highly desirable market.”
Academy West Investments, LLC is a multi-family and student housing investment company located in Orange County, California. The company was formed in 2018 as a start-up investment vehicle, by Blake Wettengel and Tanya Muro, who together have nearly 30 years of real estate experience. The combined experience of the principals includes the acquisition and management of nearly $3,000,000,000 of real estate investments in just about every asset class.