ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a nationwide commercial real estate middle-market lender, has originated a $10.5 million loan to fund the acquisition and pre-development of proposed student housing development 2538 Durant Avenue located in Berkeley, California (the “property”). The loan is provided to Valiance Capital, a locally based real estate development and investment management firm with primary focus on multi-family and student housing.
https://finance.yahoo.com/news/acres-funds-10-5m-student-130000780.html
