Berkadia Secures JV Equity for Final Phase of Fremont Rentals

Berkadia secured a joint venture equity partner on behalf of an institutional client for the development of the 336-unit Aurum, the final phase of a 966-unit multifamily development adjacent to the Warm Springs BART Station in Fremont. Senior managing director Brett Betzler and senior director Kaohu Berg-Hee of Berkadia’s Irvine and San Francisco offices brokered the deal.

Betzler said Aurum was “one of only a handful of high-density projects capitalized in California in 2025. It is a stone’s throw from the Tesla plant, which is the highest-volume vehicle manufacturing plant in North America, and produces over 500,000 cars per year. It also offers a short commute to employers such as Nvidia, Google, Apple, and Meta in Silicon Valley. As a result, demand is strong and the first two phases were leasing well and proving out the business plan for the third phase.”

Aurum will be located at 3300 Innovation Way and will consist of a five-story, elevator-served building with 336 apartment homes, 600+structured garage parking spaces, a fitness center, resort-style pool, and approximately 4,900 square feet of ground-floor retail. Completion is expected in 2027.