BERKSHIRE GROUP EXPANDS ITS FOOTPRINT IN SOUTHERN CALIFORNIA
Purchases 124-unit Class A Community in Laguna Niguel
BOSTON, MA — May 12, 2016 — An affiliate of Berkshire Group and TruAmerica Multifamily acquired Career Lofts, a 142-unit Class A apartment community in Laguna Niguel, California. The newly constructed complex will be rebranded as Skye at Laguna Niguel and will be managed by Berkshire Communities, the property management division of Berkshire Group.
“Berkshire is please to expand its presence in Southern California and is actively pursuing additional opportunities to grow in the region,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “The purchase of Skye at Laguna Niguel highlights our continued focus on investing in quality product in our targeted group of markets.”
Developed by United American Properties, Skye at Laguna Niguel amenities include a resort style pool and spa, rooftop lounge and resident social lounge, outdoor jogging path and bike maintenance station.
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of December 31, 2015, Berkshire Group had approximately $6.2 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.