The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 24, 2024
 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?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Los Angeles Student Housing Property Refinanced for $16 Mil after Recent Improvements

2/06/23

Victory on Portland, a 55 unit/139-bed student housing property in Los Angeles, has been refinanced for $16.1 mil by its owner, Champion Real Estate Company. The property is located at 2353 Portland St, east of Hoover St and north of Adams Blvd.

The long-term, fixed rate financing was funded through Wintrust Bank. The refinance comes after an active 2022 when Champion acquired over 1,500 beds nationally at four different universities.

Champion purchased the property, which, at acquisition, consisted of 47 units/102 beds in March of 2020 for $14.1 mil. Since then, Champion completed a $2 mil renovation of the existing improvements which included upgrading the mechanical systems, renovating the interior units, enhancing curb appeal, increasing the amenity package and a general rebranding of the property.

Thanks to a state law which permitted increased density at the property, Champion was able to construct an additional 8 units/37 beds at the property, greatly increasing the value of the asset.





Return to the Archive 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 © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media