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8/08/22
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Champion Real Estate Company has acquired two former University of Southern California (USC) fraternity houses located at 624 W 28th St and 2715 Portland St in Los Angeles for $16.7 mil.
Victory on 28th LLC, a subsidiary of Champion, will begin immediately on rebranding and overhauling 624 W. 28th St. Additionally, Victory House Portland LLC, another subsidiary of Champion, will be rebranding and overhauling 2715 Portland St.
Both properties are located at USC’s Greek Row and will feature oversized community lounges, roof decks, private study carrels and a state-of-the-art security system. They will be leased by the bed with utilities including cable and internet. All bedrooms will be fully furnished including the latest home theater electronics.
"With the rise in university enrollment, Champion is confident in the investment strength of student housing especially for assets at prime locations like those near USC," said Garrett Champion, Executive Vice President with Champion Real Estate Company. "We will continue to make strategic student housing acquisitions at Tier 1 universities on the West Coast and throughout the United States."
The Victory on 28th and Victory House Portland investments will be the firm’s 7th an 8th student housing acquisitions at the University of Southern California. Champion recently closed on a 715-bed portfolio at Syracuse University.
Michael Fukushima and Stephen F. Watson of Total Realty Group represented Champion and the sellers.
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