The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 2, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Universe Holdings Pays $12.5 Mil for Ventura Apartment Complex

10/20/22

Universe Holdings has acquired Hacienda Villas, a 34-unit townhome-style multifamily community in Ventura, for $12.55 mil ($369k/unit). Located at 10829 Del Norte St, Hacienda Villas is close to a growing number of employment hubs including the Ventura County Government Center and the 101 Tech Corridor.

Built in 1977, Hacienda Villas feature a mix of two- and three-bedroom apartments with spacious floor plans ideal for families and other renters looking for additional space. In addition to completing the unit interior renovation program started by the seller, Universe will make accretive upgrades to the building exterior and common areas.

The acquisition marks is the LA-based firmís second acquisition in Ventura over the past five months and increases its holdings in the coastal California city to 500 units. Universe entered the market in 2018 with the acquisition of Capes at Ventura, a 400-unit property located approximately five miles from Hacienda Villas. In May, Universe purchased Woodland Manor, a 40-unit multifamily community located minutes from Capes at Ventura, in an off-market transaction worth $14.55 mil.

Over the past decade, Ventura Countyís economy has dramatically shifted from a region highly dependent-upon government-funded aerospace and defense programs and agriculture to a leading center for high-tech, telecommunications, clean energy and healthcare. Major companies like Amgen, General Dynamics Corporation, Ixia, Waterway, Volkswagen, Jafra Cosmetics, Kythera Biopharmaceuticals and Dole Food Company have a significant presence in the market.

Ventura boasts a thriving rental market with historically high growth and occupancy. The city is consistently ranked in the top 10 of the safest and most livable cities in the country, drawing new residents looking to take advantage of its great climate and proximity to the Pacific Ocean.

NorthMarq represented the seller in the transaction.





Return to the previous page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media