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2/24/16
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In the latest development news from Oakland, Invesco Real Estate purchased a prime site in the city’s popular Uptown District. The property, located at 2270 Broadway, north of Grand Ave and just a few blocks from Lake Merritt, was sold by Lakeshore Partners.
Invesco plans to build a new 24-story residential high-rise tower slated to contain 223 units with a mix of studio, one- and two-bedroom options. The project will feature expansive views of Downtown Oakland, Lake Merritt, the Oakland Hills and San Francisco Bay. Plans for the fully-entitled site also include best-in-class amenities such as a fitness center, club room, bike storage, pet wash and outdoor rooftop terrace.
2270 Broadway is ideally located in the vibrant Lake Merritt/Uptown District of Oakland, a rapidly growing neighborhood that is home to a vast number of new restaurants, specialty shops and entertainment hotspots. The property is walking distance from the 19th Street BART station, the new Uber campus, and the innovative Hive project, a mixed-use development that is home to a diverse blend of apartments, specialty restaurants and co-working space.
Matt Kroger and Bill Cumbelich of CBRE represented Invesco in the purchase.
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