Champion Realty Acquires Development Site In DTLA For $28.5M

The development site located at 801 West Adams Boulevard in Los Angeles has been sold. The transaction took place on 04/30/2018 and the buyer was Champion Realty. The property is situated in the DTLA market and is intended for the development of housing for students at the University of Southern California, which is located approximately half a mile north of the site. The buyer, led by founder Bob Champion, plans to construct 100 townhouses on the property. The sale was financed by Calmwater CAPITAL, with the loan amount totaling $28,500,000. David Cohen represented the lender in the transaction.

Summary of transaction details

• Property Type: Development Site
• Sale Amount: $28,500,000
• Date: 04/30/2018
• Landlord: Champion Realty
• Lender: Calmwater CAPITAL - David Cohen
• Address: 801 West Adams Boulevard
• City: Los Angeles
• Market: DTLA

The sale of the development site was completed with the assistance of David Cohen from Calmwater CAPITAL who represented the lender in the transaction. Bob Champion, the founder of Champion Realty, led the purchase and has plans to develop housing for University of Southern California students by constructing 100 townhouses on the property.