DivcoWest Buys Three Berkeley Complexes for Combined $102MM


San Francisco-based investment firm DivcoWest is continuing to buy properties across the Bay Area, most recently closing on the acquisition of several apartment assets in Berkeley. According to The Mercury News, DivcoWest purchased three properties from The Green Cos., based in Portland, Oreg., for a combined $102 million.

In the largest deal, Stadium Place was acquired for $42.8 million, or about $321,800 per unit. The 133-unit  complex is located at 2130 Fulton Street.

Telegraph Gardens, at 3001 Telegraph Ave., totals 38 units. The property was purchased for $31 million or about $815,800 per unit. Public records show that The Green Cos. originally paid $25.38 million, or about $667,895 per unit, for the asset in 2019.

Lastly, Allston Place sold for $28.2 million, or about $470,000 per unit. The property totals 60 units and was originally constructed in 2002. The complex is located at 2161 Allston Way. Records show that it last traded in November of 2016 for $22.39 million… READ MORE.