Dealmaker: Colliers Brokers Sale of Historic Oakland Building

(Image courtesy of Colliers)

Colliers, Toronto, brokered the sale of a historic Young Women’s Christian Association building for $22.5 million in downtown Oakland, Calif.

Colliers Senior Vice President Benjamin Harrison and Vice President Will Cliff represented the seller, Douglas Abrams, GZP Highbridge Equity Partners.

The buyer is an existing charter school tenant.

 “We are very happy to help bring this transaction to fruition to honor this building’s rich history and original intent of ‘gathering children together to teach them helpful things,’ ” Harrison said. “The seller was instrumental in structuring a complicated bond offering to make this ideal match a reality.”

The five-story property was built as a YWCA funded by Phoebe Hearst, philanthropist and mother of William Randolph Hearst. It was the oldest YWCA in California.

It currently has a theater, gym and classrooms, in addition to more than 65 residential units, which will be made available to the teaching community.