{"id":1004111580,"date":"2015-01-21T07:43:01","date_gmt":"2015-01-21T15:43:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004111580"},"modified":"2022-12-03T18:27:52","modified_gmt":"2022-12-04T02:27:52","slug":"berkshire-increases-bay-area-m-f-presence-with-new-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/","title":{"rendered":"Berkshire Increases Bay Area Apartment Presence with New Acquisition"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png\"><img decoding=\"async\" data-attachment-id=\"1004111582\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/901-jefferson\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png\" data-orig-size=\"750,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"901 Jefferson\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png?w=750\" loading=\"lazy\" class=\"alignright size-medium wp-image-1004111582\" alt=\"901 Jefferson\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png 750w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png?resize=300,200 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/i><\/p>\n<p>An affiliate of the Berkshire Group has acquired 901 Jefferson, a 75-unit Class A apartment community located in Oakland, Calif., from Madison Park Financial.<\/p>\n<p>The price of the sale was not disclosed.<\/p>\n<p>\u201cBerkshire Group\u2019s investment philosophy is to focus on core, core-plus, value-add and development investment opportunities in major markets with expected strong underlying fundamentals,\u201d Eric Schrumpf, Berkshire Group\u2019s vice president, acquisitions, told <i>Commercial Property Executive<\/i>. \u201cWe believe 901 Jefferson fits this strategy well\u2014it is a contemporary apartment community with modern fixtures and amenities in an area that we believe is undergoing a revitalization, with the area\u2019s strong tech sector and relative affordability (compared with other Bay Area locations) expected to drive both population and employment growth.\u201d<\/p>\n<p>The community offers both one- and two-bedroom apartments, and unit interiors feature modern finishes such as hard stone countertops, stainless steel appliances, and in-unit laundry appliances. Resident-common spaces include a central courtyard with portable grills, as well as parking.<\/p>\n<p>\u201cAmong our plans for 901 Jefferson, we expect to convert a vacant first floor retail space to a leasing office and also add a fitness center,\u201d Schrumpf added. \u201cWe believe improved common areas should enable the asset to better compete with newer vintage assets in the market that have historically been able to offer a higher level of service to the residents of Downtown Oakland.\u201d<\/p>\n<p>Originally constructed in 2008, the building is located in the Historic Old Oakland part of Downtown and offers a live-work-play environment with access to public transit and major roadways, close by the Bay Area\u2019s major employment centers.<\/p>\n<p>The property is situated in close proximity to the Bay Area\u2019s transit system, BART, as well as major roadways I-80 and I-580, offering access to San Francisco\u2019s Downtown and Financial District areas, and the greater East Bay including Berkeley, Emeryville, and Walnut Creek.<\/p>\n<p>According to Schrumpf, the company was seeing rental demand driven by job growth in the Bay Area, with both employers and residents opting for more affordable office and residential pricing in Oakland relative to San Francisco.<\/p>\n<p>\u201cAdditionally, Downtown Oakland\u2019s emerging restaurant and nightlife scene and access to local and regional public transit offer many of the urban amenities that residents are demanding, at a more affordable price point than other part of the Bay Area,\u201d he concluded. \u201cWe believe 901 appeals to residents who desire living in a live-work-play environment undergoing revitalization, with access to public transit and major roadways that connect them to the Bay Area\u2019s major employment centers.\u201d<\/p>\n<p>Berkshire Communities, the property management division of Berkshire Group, will manage the apartment community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In response to the Bay Area&#8217;s rental demand due to job growth, an affiliate of Berkshire Group has gotten on the bandwagon with the purchase of a Class A apartment community in Oakland.<\/p>\n","protected":false},"author":451,"featured_media":1004111582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,15],"tags":[],"class_list":["post-1004111580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Berkshire Increases Bay Area Apartment Presence with New Acquisition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkshire Increases Bay Area Apartment Presence with New Acquisition\" \/>\n<meta property=\"og:description\" content=\"In response to the Bay Area&#039;s rental demand due to job growth, an affiliate of Berkshire Group has gotten on the bandwagon with the purchase of a Class A apartment community in Oakland.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-21T15:43:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T02:27:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Berkshire Increases Bay Area Apartment Presence with New Acquisition\",\"datePublished\":\"2015-01-21T15:43:01+00:00\",\"dateModified\":\"2022-12-04T02:27:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/\"},\"wordCount\":443,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/901-Jefferson.png\",\"articleSection\":[\"Investment\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/\",\"name\":\"Berkshire Increases Bay Area Apartment Presence with New Acquisition - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/901-Jefferson.png\",\"datePublished\":\"2015-01-21T15:43:01+00:00\",\"dateModified\":\"2022-12-04T02:27:52+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/901-Jefferson.png\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/901-Jefferson.png\",\"width\":750,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Berkshire Increases Bay Area Apartment Presence with New Acquisition\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/keith-loria\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Berkshire Increases Bay Area Apartment Presence with New Acquisition - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/","og_locale":"en_US","og_type":"article","og_title":"Berkshire Increases Bay Area Apartment Presence with New Acquisition","og_description":"In response to the Bay Area's rental demand due to job growth, an affiliate of Berkshire Group has gotten on the bandwagon with the purchase of a Class A apartment community in Oakland.","og_url":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-01-21T15:43:01+00:00","article_modified_time":"2022-12-04T02:27:52+00:00","og_image":[{"width":750,"height":500,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","type":"image\/png"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/"},"author":{"name":"Keith Loria","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"headline":"Berkshire Increases Bay Area Apartment Presence with New Acquisition","datePublished":"2015-01-21T15:43:01+00:00","dateModified":"2022-12-04T02:27:52+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/"},"wordCount":443,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","articleSection":["Investment","News","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/","url":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/","name":"Berkshire Increases Bay Area Apartment Presence with New Acquisition - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","datePublished":"2015-01-21T15:43:01+00:00","dateModified":"2022-12-04T02:27:52+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","width":750,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/berkshire-increases-bay-area-m-f-presence-with-new-acquisition\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Berkshire Increases Bay Area Apartment Presence with New Acquisition"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/901-Jefferson.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004111580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004111580"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004111580\/revisions"}],"predecessor-version":[{"id":1004531218,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004111580\/revisions\/1004531218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004111582"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004111580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004111580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004111580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}