Updated Oct 29, 2024
Universe Holdings Acquires Los Angeles Apartment Complex For $100M
760 South Hill Road, Ventura, CA, USA
$100,000,000
$324/SF
Building Size
308,600 SF
Asset Type
Other
Closing
May 15, 2018
About this deal
AI
An apartment complex located at 760 S. Hill Road in Los Angeles has recently been sold in a closed transaction for $100,000,000. The property spans a total area of 308,600 square feet and is situated in the Ventura market. With a price per square foot of $324, the complex consists of 400 units. The per unit price equates to $250,000.
Summary of transaction details
- Property Type: Apartment Complex
- Transaction Amount: $100,000,000
- Address: 760 S. Hill Road, Los Angeles
- Market: Ventura
- Total Square Footage: 308,600 sf
- Price per Square Foot: $324
- Number of Units: 400
- Price per Unit: $250,000
This significant transaction was facilitated by the seller, NorthStar, and the buyer, Universe Holdings represented by Henry Manoucheri and Hanover Financial. The deal signifies the buyer's strategic move to expand their presence in the Los Angeles real estate market. Universe Holdings, along with the support of Hanover Financial, continues to demonstrate their commitment to growth and investment opportunities in the area.
Players
Ventura Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93