LOS ANGELES — Universe Holdings has received $124.7 million to refinance a seven-property multifamily portfolio in Southern California. The properties contain a total of 559 units.
The refinancing program generated $15 million in proceeds for new acquisitions and asset improvement programs. Universe is targeting up to $100 million in new acquisitions this year, according to the firm’s CEO.
Properties in the portfolio are the 50-unit Isles of Charm in Los Feliz; the 172-unit Nantucket Creek in Chatsworth; the 53-unit Chateau Lakeside; the 82-unit Chateau Woodley Hart in Van Nuys; the 52-unit Chateau Regent in North Hollywood; the 56-unit Chateau Spring Terrace in La Mesa; and the 94-unit Chateau Spring Hill in La Mesa.
HFF’s Charles Halladay arranged the loans through HFF’s Freddie Mac Program Plus® Seller/Servicer Program and Sabal Financial’s Freddie Mac Small Balance Program.