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Champion Realty Refinances USC Student Housing Asset

Champion Refinances USC Student Housing Asset

Los Angeles-based Champion Real Estate Company has secured the $16.1 million refinancing of Victory on Portland, a 55-unit, 139-bed student housing property in Los Angeles near the University of Southern California. The long-term, fixed-rate loan was obtained through Wintrust Bank.

Champion purchased the property in early 2020, and was planning to complete a $2 million renovation, but the work was delayed due to the pandemic as universities transitioned to remote learning. The company was finally able to renovate the property and added an additional 8 units and 37 beds, increasing the value of the asset.

“Victory on Portland is a terrific example of the value potential in renovating dated properties that are walking distance to Tier 1 universities,” said Champion COO Parker Champion. “Despite the challenging capital market environment, we were able to close very accretive financing due to the value we have added since acquisition.”


Inside The Story

Champion Real Estate CompanyWintrust CRE LendingParker Champion

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.