Despite a turbulent capital markets climate, Champion Real Estate has secured a $40.5 million refinance of University Village Fullerton, a 121-unit, 427-bed student housing property in Fullerton, CA. Located just north of Cal State University Fullerton on Oxford Avenue and purchased by Champion in 2021 the asset was refinanced with a long-term fixed rate loan through RGA Reinsurance Company.
In the two years since acquisition of this property by Champion Real Estate they have completed an extensive renovation totaling $3.5 million which included unit modernization and mechanical system upgrades as well as amenity improvements to increase desirability for tenants. Additionally they spent an additional $7 million building 21 new units to further increase density at the community level creating even more value for investors and residents alike..
“At University Village Fullerton we were able to use our developer DNA to create significant value which was critical to secure accretive refinance options despite disruption still present within capital markets,” said Parker Champion COO with Champion Real Estate .
