Saturday, December 6, 2014

HFF secures more than $17 million in refinancing on behalf of Universe Holdings for six-property Los Angeles, CA multi-housing portfolio


Charles Hallady
IRVINE, CA – HFF announced it has arranged refinancing totaling more than $17 million for six multi-housing properties in the Los Angeles metropolitan area on behalf of Century City-based Universe Holdings (Universe).

               HFF worked on behalf of the borrower to secure the seven-year, fixed-rate loans through Freddie Mac (Federal Home Loan Mortgage Corporation).  

Rates range from 3.88 to 4.11 percent.  All of the loans are securitized and will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer Program.

               The portfolio totals 118 units and has an average occupancy of 98 percent.  The properties within the portfolio are: Chateau Barry, Chateau Olympic, Chateau Parkside, Chateau Sycamore, Citronia Luxe Towers and Islands of Tranquility; all located in Los Angeles.

               The HFF team representing Universe was led by director Charles Halladay, working in tandem with Universe founder Henry Manoucheri and his executive committee.

Henry Manoucheri
               According to Manoucheri, “We have forged a close relationship with HFF from more than 20 successful closings and value their strategic contributions to our business model, including this recent recapitalization which provided Universe with ample capital to aggressively source and purchase new deals.”

               Universe is a privately-held multifamily investment, ownership and management firm specializing in value-add and off-market transactions. 

Founded by Chairman/CEO Henry Manoucheri in 1994, the company has completed investment transactions encompassing more than 6,000 apartment units in national and international markets. 

Universe has developed a proprietary market analysis and submarket concentration model that ensures long-term value through strong fundamentals meeting institutional quality ownership strategies.
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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