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June 29, 2017

Berkadia handles AVA U District sale

AVA University District [enlarge]

The Seattle office of Berkadia said its team of Kenny Dudunakis, David Sorensen and Ben Johnson helped represent AvalonBay's recent sale of the AVA University District at 4535 12th Ave. N.E. Also representing the seller in that $112 million deal were Kevin Larimer and Greg Gonzalez from the firm's Chicago office. Berkadia is a joint venture of Berkshire Hathaway and Leucadia National Corp. In a statement, Larimer said, “Student housing seems to be the product type of choice right now for investors. Investors have identified the strong fundamentals of student housing with fewer deliveries, average occupancy above 97 percent, annual rent growth more than three percent and a fixed resident base from which to draw.”




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