Valiance Capital Acquires "Prospect Manor" Apartments

BERKELEY, CA, November 28, 2022 – Valiance Capital, a Berkeley-based private equity investment firm specializing in multifamily, student-housing real estate, announces the acquisition of Prospect Manor Apartments, a 27-unit student-housing apartment-community in Berkeley, CA. The asset is in the nation's most robust student housing markets, and within 1 mile from Valiance’s other 13 student housing properties in Berkeley, CA. Prospect Manor Apartments will be rebranded "The Atrium at Prospect" upon takeover.

The purchase marks Valiance Capital's 20th investment in Berkeley, and 41st in the United States. Constructed in 1960, the Atrium at Prospect is a premium 3-story student-housing property situated at 2430 Prospect Street, Berkeley CA. The apartment has a desirable unit mix of one, two, and three-bedroom apartments, attracting a wide range of residents from various student demographics. The apartment will soon boast luxury interior finishes, custom-design furnished communal areas, a 24/7 Surveillance System, in-unit Washer & Dryer Units, and a grand atrium offering residents a high-end living experience. Valiance Capital has an opportunity to renovate the asset into a market-leading standard. 

This acquisition highlights the company's strategy of acquiring value-add opportunities in excellent condition with strong locations and significant operational upside in a high barrier-to-entry market.  The Atrium at Prospect, located two blocks from the best public university in the world -- UC Berkeley – sits in the heart of the Southside District of Berkeley, providing unparalleled convenience for students, granting it a high market demand. 

UC Berkeley has rapidly increased its enrollment over the last 15 years, adding approximately 11,124 undergraduate and graduate students since 2006. Meanwhile, cumulative apartment and student housing deliveries have totaled only 3,251 units over that same period, further exacerbating what was already one of the worst on-campus housing crises in the country. The university currently provides approximately 9,000 on-campus beds for a student of some 45,000, giving the lowest percentage of beds per student of any campus in the UC system. Housing is only guaranteed to first year and fall transfer students, and most of the on-campus housing is taken by the incoming freshman class, comprised of roughly 9,000 students, which means that the vast majority of sophomore, junior, senior, and graduate students must search for off-campus housing each year.

About Valiance Capital 

Valiance Capital is a Berkeley-based private equity investment firm specializing in acquiring, renovating, repositioning, and managing multifamily, student-housing assets across California. Valiance Capital owns and operates a diverse portfolio of student-housing with over 600 units valued at over $225 million. With its distinctive approach to investing in and managing real assets, Valiance Capital has consistently produced above-average risk-adjusted returns for its investors.

Valiance Capital is one of the most active investor operators of value-add multifamily student housing products within 6 blocks of UC Berkeley campus. As a preeminent local investor-operator in the Berkeley submarket, Valiance is proud to be the #1 largest operator of private student co-living communities in Berkeley by number of properties.