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12/03/14
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Century City-based Universe Holdings has obtained more than $17 mil in refi money for six multi-housing properties in the Los Angeles metropolitan area. The seven-year, fixed-rate loans were arranged by HFF and secured through Freddie Mac (Federal Home Loan Mortgage Corporation).
The loan rates range from 3.88 to 4.11 percent. All of the loans are securitized and will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer Program.
The portfolio totals 118 units and has an average occupancy of 98 percent. The properties within the portfolio are: Chateau Barry, Chateau Olympic, Chateau Parkside, Chateau Sycamore, Citronia Luxe Towers and Islands of Tranquility; all located in Los Angeles.
The HFF team representing Universe was led by director Charles Halladay, working in tandem with Universe founder Henry Manoucheri and his executive committee. Founded in 1994, Universe is a privately-held multifamily investment, ownership and management firm specializing in value-add and off-market transactions. The company has completed investment transactions encompassing more than 6,000 apartment units in national and international markets.
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