Gerding Edlen People Planet Prosperity

5-story, 84-unit mixed-use apartment building

1122U, located at 1122 University Avenue in Berkeley, CA, was acquired in 2014 as a separate managed account. Built in 2010, 1122U is a 5-story, 84-unit mixed-use apartment building with 3,700 sq. ft. of retail space. The property provides a mix of unit types and floorplans including studios, one-, two- and three bedroom apartments and four- and five-bedroom townhouses. In 2015, Gerding Edlen executed a value-add strategy that included cosmetic upgrades to the units and amenity spaces and a sustainable operations program. The property is located within close proximity to the University of California Berkeley Campus and Berkeley’s Fourth Street restaurant, retail and entertainment corridor. Gerding Edlen successfully acquired, renovated, re-leased and managed the asset, including property management. 1122U was sold in 2017.

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1122U

Location: Berkeley, CA
Type: Mixed-Use
Square Footage: 77,000
Owner: Separate Managed Account

- 84 residential apartment units with 3,700 sq. ft. of retail space that is occupied by a local coffee shop
- Value-add strategy included light unit upgrades such as vinyl wood plank flooring and new, Energy Star-rated washers and dryers, as well as cosmetic improvement to the common areas, such as the addition of a bike parking area
- Amenity spaces include a 24-hour fitness center, resident lounge, rooftop deck with Bay views and bike parking
- Sustainable operations program included a building-wide green cleaning program and expanded recycling program

5-story, 84-unit mixed-use apartment building

1122U

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1122U

LivablePlace Index™

Planet

2017 Annual Savings

Energy

Air

Water

Livable
Place Index™