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October 20, 2018
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Champion Realty to Develop 100-Unit Res Project Near USC

4/26/18

A Champion Realty affiliate has acquired 2.76-acre property located at 801 W Adams Blvd in Los Angeles, near the University of Southern California (USC). Champion plans to develop a 100-unit townhome project at the site.

Champion financed the purchase with $28.525 mil in senior debt provided by Calmwater Capital. The Calmwater financing includes an initial commitment of a $15.67 mil senior secured-term loan and a $12.85 mil delayed draw-term loan for future expenses.

Located a half mile from USC, the property is within the university’s security perimeter and in close proximity to its Greek Row. The future housing complex will address the undersupply of residential housing in the area.

Champion Realty Ltd intends to gain approvals for the project during the loan period. The highly amenitized project will include a pool, clubhouse and gym and outdoor sand volleyball court. Construction is slated to begin in September 2019.

The borrower is an entity owned and controlled by Bob Champion, Parker Champion and Garrett Champion.





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