New-Californian-WEB

Hudson McDonald Secures $60M Refinancing for Two Berkeley Assets

by Lynn Peisner

BERKELEY, CALIF. — Hudson McDonald, a locally based builder, developer and investor specializing in apartments and student housing, has obtained $60 million to refinance two Berkeley communities, New Californian and The Metropolitan. CBRE arranged the 10-year, fixed-rate agency loan. Mike Walker, Jesse Weber, Brad Zampa and Andrew Behrens led the transaction. New Californian is a 148-unit mixed-use building that features 15,778 square feet of retail anchored by Trader Joe’s and Café Etoile. The property, located at 1988 Martin Luther King Jr. Way, was developed in 2010. Twenty-two of the apartments are rent-restricted. Rent caps were not disclosed. The Metropolitan is a 45-unit, dorm-style student housing community.

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