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12/18/12
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Universe Holdings Development Company has obtained more than $56 mil in refi money for nine multi-housing properties in the Los Angeles and San Diego metropolitan areas. The financing was arranged by an HFF team led by Charles Halladay, who secured 10-year, fixed-rate loans through Freddie Mac (Federal Home Loan Mortgage Corporation).
The loan rates range from 3.74 to 4.08 percent. All of the loans are securitized and will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer Program.
The portfolio totals 536 units and has an average occupancy of 98 percent. Individual property details and loan amounts are listed below:
Property Name Location Size Loan Amount
Chateau Alto Nido Apartments Los Angeles 44 Units $4.725 mil
Chateau Lakeside Apartments Van Nuys 53 Units $6.750 mil
Chateau Regent Apartments North Hollywood 51 Units $5.404 mil
Chateau Woodley-Hart Apartments Van Nuys 82 Units $9.674 mil
Isle of Charm Apartments Los Angeles 50 Units $5.330 mil
The Hills at Spring Street Apartments La Mesa 94 Units $7.336 mil
The Hollywood at El Cerrito Apartments Hollywood 50 Units $4.132 mil
The Terraces at Spring Street La Mesa 56 Units $5.428 mil
Villa Del Sol Apartments Long Beach 56 Units $7.450 mil
Led by CEO and Chairman Henry Manoucheri, Universe Holdings Development Company is an experienced operator of multifamily apartments, with more than 80 cumulative years of experience owning, managing, and renovating Class B multifamily properties in Southern California. Universe Holdings Development Company has acquired 4,500 units of multifamily real estate in Southern California since its inception in 1994.
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