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| 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.
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| 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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