Universe Holdings Snags Ventura Multifamily Property for $20M
Berkadia has completed the $20.35 million sale of YOLO West Apartments, a 45-unit multifamily community in Ventura, CA. The property, which also includes ground-floor retail, was purchased by Universe Holdings from NUWI Capital, Inc.
“Investors are excited about the coastal city of Ventura,” said Berkadia’s Adrienne Barr who represented the seller in the transaction. “Ventura has experienced tremendous rent growth over the past decade, with rents 54.7% higher.” Barr also represented NUWI Capital in the $23 million disposition of YOLO East last summer.
Located at 11114 Darling Road, YOLO West features one- and two-bedroom floor plans, including four live-work units. Community amenities include a fitness center and a BBQ/game area.
“This is our sixth acquisition in Ventura in the past several years,” said Universe Holdings CEO Henry Manoucheri. “Ventura, Santa Barbara and Central California will play a big role in our growth in Southern California as we reduce our foothold in Los Angeles.”