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4/21/21
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Champion Real Estate Company has acquired Oxford North, a 100-unit, 346-bed student housing community in Fullerton, for $44.4 mil ($444k/unit). The property, located at 2000 Oxford Ave, adjacent to California State University, Fullerton, will be rebranded as University Village Fullerton.
Victory at Fullerton LLC, a subsidiary of Champion, will begin immediately on a complete rebrand and renovation of the student housing community. The improvements will consist of adding additional density, upgrades to the courtyards and pool as well as full in-unit renovations including new stainless steel appliances, stone countertops, modern cabinetry and laminate wood flooring. The company will also fully furnish the units to include beds, couches, chairs, coffee tables, dining tables, flat screen televisions, cable, Internet, WiFi, Sonos soundbars and other amenities.
"This was great opportunity for Champion Real Estate Company to acquire a value-added property in a supply-constrained market with limited on-campus housing," said Garrett Champion, Executive Vice President with Champion Real Estate Company. "While COVID-19 has impacted student enrollment for the current school year, we are bullish on student housing value-add opportunities like Victory at Fullerton as campuses open for in-person learning this fall."
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