Landmark Properties has purchased a retail complex south of UC-Berkeley for $18.5M from Bancroft Center Co, which it plans to redevelop into a 132-unit student housing project. The property, located at 2580 Bancroft Way, is not currently entitled for student housing but Lowney Architecture has designed a potential six-story building that could be built on-site. Landmark specializes in building off-campus student housing. Berkeley has seen an increase in interest for larger housing projects since voters approved a denser downtown area last year. Colliers repped both parties in the deal and received bids from 12 private companies from around the US. [SFBT]
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