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GRANADA HILLS, CALIF. — Los Angeles-based Universe Holdings has acquired a three-building multifamily portfolio in Granada Hills. An undisclosed seller sold the asset for $25 million.
Janet Neman of Kidder Mathews represented the buyer in the off-market transaction.
The portfolio includes Boardwalk & Park Place Apartments, a 56-unit building at 16860-16900 Chatsworth St.; Devonshire Apartments, a 38-unit complex at 16700 Devonshire St.; and Granada Pine Apartments, a 28-unit property located at 16930 Blackhawk St.
Universe Holdings plans to implement a renovation strategy and will invest nearly $2.7 million in property upgrades. The three buildings were constructed in the 1960s.