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3/08/16
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Universe Holdings recently completed the refinancing of seven multifamily properties encompassing 125 units in transactions totaling $14.32 mil. HFF structured the loans on behalf of Universe through Freddie Mac, with five-year fixed interest rates ranging from 3.2 to 3.5 percent.
HFF’s Charles Halladay arranged the loans through HFF’s Freddie Mac Program Plus® Seller/Servicer Program and Sabal Financial’s Freddie Mac Small Balance Program. The refinanced properties include: Chateau Whitset; Chateau Laurel; Chateau Studio Village; Chateau Spring Gardens; Chateau Sycamore; Chateau Emeleta; and Ocean Elements at Alamitos Beach. The portfolio of seven properties was 100 percent leased at the time of refinance.
Universe is an active investor in Southern California’s top coastal, urban and suburban markets, most recently completing two acquisitions in the city of Inglewood, in advance of the region’s expected revitalization, due in great part to the addition of the new NFL stadium project that will become home to the relocating Los Angeles Rams. The company is hoping to make up to $100 mil of new acquisitions in 2016, primarily in Los Angeles, San Diego, Orange County and the Inland Empire.
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