LOS ANGELES — Champion Real Estate Company (“Champion”), announced today that it has acquired two former University of Southern California (USC) fraternity houses located at 624 W 28th Street and 2715 Portland St in Los Angeles for $16.7 million.
Victory on 28th, LLC, a subsidiary of Champion, will begin immediately on rebranding and overhauling 624 W. 28th Street. Additionally, Victory House Portland, LLC, another subsidiary of Champion, will be rebranding and overhauling 2715 Portland Street. Both properties are located at USC’s Greek Row and will feature oversized community lounges, roof decks, private study carrels and a state-of-the-art security system. It will be leased by the bed with utilities including cable and internet included and all bedrooms will be fully furnished including the latest home theater electronics.
“With the rise in university enrollment, Champion is confident in the investment strength of student housing especially for assets at prime locations like those near USC,” said Garrett Champion, Executive Vice President with Champion Real Estate Company. “We will continue to make strategic student housing acquisitions at Tier 1 universities on the West Coast and throughout the United States.”
The Victory on 28th and Victory House Portland investments will be the firms 7th an 8th student housing acquisitions at the University of Southern California. Champion recently closed on a 715-bed portfolio at Syracuse University.
Michael Fukushima and Stephen F. Watson of Total Realty Group represented Champion and the sellers.
About Champion Real Estate Company
Founded in 1987, Champion Real Estate Company is a family office which invests its own money alongside high-net-worth individuals and registered investment advisors across the risk spectrum of real estate in key primary markets across the United States. Over the past 20 years, Champion has achieved over a 20 percent annual compounded return on investor equity by acquiring core plus, value add and opportunistic multifamily, retail, office, student housing and mixed-use properties.