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| Former fraternity house, re-named Victory House, 668 West 28th Street, Los Angeles, CA |
LOS ANGELES, CA, May 14, 2021 — Champion Real Estate Company (“Champion”), announced today that it has acquired a former fraternity house located at 668 West 28th Street in Los Angeles from Wall Street Properties, LLC for $8 million.
The property,
located on Fraternity Row of the campus of University of Southern California,
will be rebranded as Victory House. This building is the company's
fifth student-housing property near the University of Southern California
campus.
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| Garrett Champion |
Champion Victory House, LLC, a subsidiary of Champion, will begin immediately on a complete overhaul of the 1906 constructed building which has seen several renovations over the years.
Victory House
will feature two community lounges and a study lounge. It will be leased
by the bed and all beds will be fully furnished including televisions and Sonos
soundbars.
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| Michael Fukushima |
"Despite the current student housing climate caused by the COVID pandemic, we at Champion believe now is a great time to acquire and renovate a property like Victory House near a top tier University in a severely supply constrained market," said Garrett Champion, Executive Vice President with Champion Real Estate Company. "We will continue to look to acquire communities that fit ourbusiness plan."
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| Stephen F. Watson |
Champion went on to say “the company operates three other student housing communities at USC under the Victory brand including Victory on 30th, Victory on Ellendale and Victory on Portland.
"Champion
also obtained entitlements
for a 102-unit community behind Greek Row at 806 West Adams Boulevard.”
Michael Fukushima and Stephen F. Watson of KW
Commercial represented Champion and the seller.
About Champion Real Estate Company
Founded by Bob Champion in 1987, Champion Real Estate Company is a family
operated company which invests its own money alongside third-party investors
across the risk spectrum of real estate in key primary markets across the
United States.
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| Bob Champion |
CONTACT:
David
Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
www.ChampionRealEstateCompany.com.
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate
Industry: I do what I love and love what I do.”
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