Gilbane Development Company broke ground on Pique, a new purpose-built student housing development located at 2587 Telegraph Ave in Berkeley, CA, four blocks from the University of California Berkeley.

Pique will transform the former Buffalo Exchange store into an eight-story residential building offering 52 units and 485 beds of purpose-built student housing. Scheduled for completion in summer 2026, the project includes 2,900 square feet of ground-floor retail space.

“We are focused on making every inch count with efficiency, privacy, and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” said Christian Cerria, development director at Gilbane Development Company. “Pique is the first student housing project in our portfolio to offer 100% of the units with balconies, bedroom/bathroom parity, bed/vanity parity, and split bathrooms that create an environment promoting privacy and mental well-being.”

JLL Capital Markets secured construction debt and equity for The Valiant, an 83-unit, 262-bed class A+ purpose-built student housing community in Berkeley. Terms weren’t disclosed.

A JLL team of director Jonah Aelyon, senior director Rick Salinas, VP Sarah Murphy and analyst Allie Repaskey worked on behalf of the sponsors, Valiance Capital and The Martin Group, in securing construction debt through Kennedy Wilson and equity through Canyon Partners Real Estate.

The Valiant, a planned student housing property at 2538 Durant Ave., will be an eight-story student housing community. It’s slated for completion before the start of the 2026-2027 academic year and will offer 80,829 square feet of space, including 54,276 square feet of residential area.

The project will be situated near diverse dining options and entertainment, according to JLL. The Berkeley Downtown BART station will be an eight-minute bike ride away, connecting students to San Francisco, Oakland and Silicon Valley.

Hawkins Way Capital, a fully vertically integrated real estate company with $3 billion of assets under management, acquired Garden Village, a 77-unit student housing property in Berkeley. Located at 2201 Dwight Way, the latest addition to Hawkins Way’s rapidly growing portfolio is the second FOUND Study property in Berkeley, following the acquisition of Varsity Berkeley in September.

Garden Village is now operating as FOUND Study Southside Berkeley. Both FOUND Study properties are managed by FCL Management, an operator of high-performing assets in select metros across the U.S.

“This acquisition reflects our ongoing commitment to investing in high-quality housing that meets the evolving needs of today’s students and young professionals,” said Ross Walker, managing partner, Hawkins Way. “Boasting modern design, superior amenities, and a prime location, just blocks from UC Berkeley, the latest addition to the FOUND Study brand is another step forward. We are eager to welcome students and create an environment that feels like home.”

Canyon Partners Real Estate LLC, The Martin Group and Valiance Capital formed a joint venture to develop The Valiant, a new Class-A student housing community near the University of California at Berkeley. Construction is scheduled to begin immediately, with completion anticipated before the start of the 2026-2027 academic year. The JV simultaneously closed on a senior construction loan from Kennedy Wilson.

The Valiant will be an eight-story, purpose-built student housing community with 83 apartment units, 262 beds, and 1,461 square feet of retail space. It will be located at 2538 Durant Ave., one block from the main entrance to UC Berkeley’s campus.

“With its prime location, sustainable design, and experienced development team, we’re pleased to announce this exciting project in partnership with Valiance Capital and look forward to partnering with Canyon and the team at Kennedy Wilson on another student housing project,” said Stephen Siri at The Martin Group.

Hawkins Way Capital, a fully vertically integrated real estate company with $3 billion of assets under management, acquired Varsity Berkeley student housing in Berkeley, its fifth acquisition in Northern California. Terms were not disclosed. The property is set to be integrated into Hawkins Way’s FOUND Study brand and will be managed by FCL Management.

“This acquisition represents an opportunity for Hawkins Way Capital to create strategic value in a market where student housing demands continue to grow,” said Ross Walker, managing partner, Hawkins Way Capital. “By transforming the property into FOUND Study Downtown Berkeley, we are helping to ease students’ stress of finding comfortable, convenient and affordable accommodations, allowing them to fully concentrate on their education.”. 

Varsity Berkeley features 159 bedrooms including studios and two- and three-bedroom units. Hawkins Way Capital plans to upgrade all units to reflect a more contemporary aesthetic starting in summer 2025. The company’s FOUND Study brand is approaching 7,000 beds.