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Transactions - MAY 26, 2021

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Cityview closes equity raise for $250m multifamily OZ project in Oakland

by Andrea Zander

Cityview has raised nearly $100 million in opportunity zone capital for its Oakland Waterfront project, a 378-unit multifamily development boasting sweeping waterfront views from more than 80 percent of the units and state-of-the-art amenities.

Located in a qualified opportunity zone, the project is part of Brooklyn Basin, a 65-acre master-planned community on the Oakland Estuary approved for 3,100 units including affordable-rate, market-rate, and active senior housing, 32 acres of parks, restored wetlands, a new marina, and 200,000 square feet of retail. Oakland Waterfront is expected to complete in 2023.

The eight-story community will feature a mix of studios and one-, two- and three-bedroom apartments with more than 80 percent of the units overlooking the waterfront. The community will also offer 331 parking spaces for residents and their guests. The tenant for the 1,700-square-foot retail portion of the project will be carefully curated to fit the lifestyle of resi

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