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.