University of California – Berkeley Student Housing

In 2013, AQARAT acquired one of the best-located student housing properties in the Berkeley market. Within walking distance to all of Downtown Berkeley’s restaurants and entertainment and with San Francisco Bay and Golden Gate Bridge views, the property provides access to the Bay Area Rapid Transit (BART) with underground rail service to San Francisco. The property is 8 1/2 
blocks to the Berkeley Station.

The company feels that Berkeley has strong demand growth with supply constraints. The UC Berkeley 2020 Long Range Plan projected 
growth in actual student headcount, estimated to be 31,800 during the regular term in 2001‐2002, to increase by 5% to 33,450 by 2020; with a 50% increase in summer term students during the same period, from 11,400 to 17,100 students. However, as of 2011‐2012, actual total student enrollment had already reached 36,142 students during the regular term, indicating a likely strong demand, and undersupply, of student housing over the next 5‐10 years.

AQARAT Ownership : 100%