East Bay university site entices brisk interest from education groups
Holy Names University has enticed numerous groups that are interested in leasing the Oakland Hills site for educational uses.
OAKLAND — Holy Names University has enticed numerous groups that are interested in leasing all or part of the Oakland Hills site for educational uses, the property’s new owner said.
BH Properties, which paid $65 million in June to buy the university that’s perched on scenic hillsides in Oakland, said more than 20 organizations have expressed interest in leasing educational space at Holy Names University.
“We are excited about the significant interest we have received over the past few months and eager to start vetting qualified applicants,” said Jim Brooks, president of BH Properties.
BH Properties has issued a request for qualifications as a way to vet potential tenants interested in renting one or more spaces at the Holy Names University site, which is located at 3500 Mountain Boulevard in Oakland.
Lee & Associates, which has begun to scout for tenants for the university site, is handling the request for qualifications. The qualifications document includes 45 requests for information that BH Properties would like tenant prospects to answer.
“The campus contains 19 buildings on a 37-acre parcel,” BH Properties stated. “Campus buildings range in size and uses include classrooms, dorms, labs, offices, food service, student union, gym, theater, parking, and outdoor public gathering areas.”
The deadline for the responses to be returned is Aug. 25.
BH Properties said the campus could be made available for one tenant or multiple tenants seeking some of the spaces.
Holy Names University sold its campus, to which it first moved in 1957, while being forced to confront financial squeezes on multiple fronts. CBRE, a commercial real estate firm, arranged the purchase transaction.
The most recent among numerous financial challenges that faced Holy Names University was a filing on Feb. 23 that stated the college had defaulted on a $49 million mortgage loan. The school’s property, including the land and buildings on the site, provided the collateral for the loan.
The lender, Preston Hollow Community Capital, filed the default notice at the Alameda County Recorder’s Office.
Now that BH Properties has completed its purchase of the property, the developer can turn its full focus to leasing the site so that school activities can resume on the campus.
“We can once again have this community resource serving the educational needs of the community,” Brooks said.