An Investment Strategy
that Speaks for Itself.
World-Class Student Housing in the Nation's Most Desirable Market:
Berkeley, California


12 Years in the Making. 7-tier strategy generating 17-20%+ returns to 200+ investors.


Recession Resilient, High-Cash Flow Asset Class


Student housing has proven itself repeatably to be one of the most insulated real estate sectors against recessions and macroeconomic turbulence (including the Great Financial Crisis of 2008 and again with the recent COVID-19 global pandemic). Over the past 70 years, student enrollment — a major driving force behind the continued growth of the student housing industry — has seen a dramatic uptick during and immediately after recessions.

The simple fact of the matter is that higher education as a categorical institution is the foundational bedrock of the American Dream, and as long as that dream persists, students will come from far and wide to attend, recession or not.


The top 175 universities in the nation have the capacity to house just 21.5% of their student populations, and this phenomenon is even more dramatic in our specialty sub-market: Berkeley, California.

UC Berkeley Student Housing falls well short of demand. With over 45,000 students and 24,000 faculty and staff, the housing needs of the University continue to put enormous pressure on the local housing market, resulting in one of the strongest residential markets in the country.

While the Covid-19 pandemic impacted enrollment for the 2020-21 school year, Berkeley saw record-breaking enrollment applications immediately after. The University’s Long-Range Development Plan anticipates a 20% increase in university enrollment over the next 15 years.


The student housing sector has historically outperformed the S&P 500 and most other investment vehicles. With an average IRR of 15-20%, combined with the outpacing of inflation by the industry's basic unit of value, price per bed, the student housing sector as a whole continues to maintain its status as both a defensive and high-performing asset class.

Given current market volatility, inflation, and the limited effects of either to student’s demand, serving the student community while capitalizing on market opportunities afforded by the sector continues to remain our singular driving priority.


Target the Nation's Best Student Housing Market.


The student housing market in aggregate faces an inelastic demand that drastically outpaces supply, and nowhere is this more true than at UC Berkeley, where one of the nation's most severe housing shortages is ongoing.

To put things in perspective, UC Berkeley currently has under 9,000 beds for the entire student body of roughly 45,000. That means only one out of every five students has a university-provided bed — the lowest percentage of beds per student of any campus in the UC system.

Despite the University’s effort to add over 11,000 beds in the next 15+ years, at current enrollment projections, 75% of UC Berkeley students would still need to be housed outside of the University system.



California is already one of the most expensive states in which to rent in the entire nation, and Berkeley not only stays true to this trend, it's leading the way. Between 2012 and 2019, Berkeley saw a 55% rent increase compared to only 26% for downtown San Francisco (all while maintaining a higher than 95% occupancy level).

At the micro level, UC Berkeley student housing saw an average 96.4% occupancy level and rent growth exceeding 75% from 2011 to 2019, confirming an unyielding demand in the face of, what some might consider, exorbitant rent increases. The closer the assets are to campus, the greater the demand, and the greater the rent growth.

Rent Growth vs. Occupancy Berkeley


Between 2010 and 2019, the Berkeley submarket experienced an explosion in population growth, rising 10% with a further 5% growth expected by 2024. Berkeley benefits from an affluent, highly educated, youthful and renter focused tenant base with an average household income of $113K, compared to the rest of California at $80K.

The Berkeley submarket has unparalleled access to intellectual capital and talent. Over the past several years, West Berkeley / Emeryville has blossomed into an emerging life science and biotech hub with more than 150 companies in the biotech field and over 200 startups under license from UC Berkeley. It has become a dynamic center for research, discovery, and manufacturing of biotechnology in the Bay Area, driven by UC Berkeley being one of the preeminent research universities in the world.



Local Expertise.
Operational Edge.

Over the past 12 years, we have become one of the most established and active local investor-operators in Berkeley. We are the largest operator of private co-living dormitories in the Berkeley market by number of properties, scaling our portfolio to over 600 units and beds within 6 blocks from the UC Berkeley campus. With over 400 new beds in our pipeline, we are enhancing our “economic moat”.

To put it plainly, our local expertise and extensive experience have created a hyper-competitive "economic moat" that allows our group to capture opportunities and leverage our platform that isn't available to our competitors, even against the larger, well-capitalized institutions.

In the process of building what we have become today, we have, by necessity, developed a full-scaled and versatile operation, which allows us to create value across the entire investment cycle, from acquisitions to design-build construction to hospitality management. Our synergistic platform is our value proposition and our investor's edge.


Our Investors

25.5% Average Net
Annualized IRR

2.8x Average Net
Equity Multiple

$70M Total Investor
Equity Invested

$225M Assets Under

40 Investment

200 HNW



The Morgan House name was inspired by one of the greatest female architects and engineers of her time, Julia Morgan. The interior design was inspired by literary salons which were created in the 17th century to bring like-minded individuals to explore intellectual topics together.

Through both inspirations, Valiance Capital took a modern approach set to cultivate a similar space where our student community of women can empower, collaborate, and shape their futures alongside each other.



Re-imagined and re-defined, Prospect is Valiance Capital’s flagship student co-living project that is revolutionizing what student housing can be.

With over 20,000 sf. of luxury living spaces and unrivaled hospitality and amenities, Prospect was transformed from a neglected student-housing property—with few tenants at the time of acquisition— into a premier, up-scale student co-living community within blocks from UC Berkeley.


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Valiance Capital LLC
2425 Channing Way Suite B, PMB #820
Berkeley, CA 94704

Valiance Capital is a real estate development and investment management company with a focus on multi-family and student housing properties.

Access the Highest-Quality
Real Estate Investments

Invest Like an Institution

©2021 Valiance Capital. All Rights Reserved.

Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Valiance Capital nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. Offers to sell, or solicitations of offers to buy, any security can only be made through official offering documents that contain important information about investment objectives, risks, fees and expenses. Prospective investors should consult with a tax or legal adviser before making any investment decision. For our current Regulation A offering(s), no sale may be made to you in this offering if the aggregate purchase price you pay is more than 10% of the greater of your annual income or net worth (excluding your primary residence, as described in Rule 501(a)(5)(i) of Regulation D). Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to refer to

Valiance Capital

Valiance Capital is a privately held real estate development and investment management company with a primary focus on multi-family and student housing properties.

Access the Highest-Quality Real Estate Investments

Valiance Capital LLC
2425 Channing Way Suite B
PMB #820
Berkeley, CA 94704

(510) 446-8525

©2021 Valiance Capital. All Rights Reserved.