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624 Hilgard Avenue
FINANCED

Affinity House Acquires UCLA Sorority House For Student Housing Conversion

624 Hilgard Avenue

Student Housing
1 SF
clock iconFinanced 237 days ago
Max Jacobson
David Oheb
Dorian Aftalion
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Summary

Loan
CALIFORNIA
Student Housing
1 sqft

Affinity House has acquired 624 Hilgard Avenue, a former Alpha Gamma Delta UCLA Sorority house, with plans to convert it into UCLA's most desirable off-campus Student Housing complex. The property, located on Greek Row directly across the street from UCLA, features 21 bedrooms, a full commercial kitchen, and expansive indoor and outdoor common areas for entertainment, studying, and dining.

Summary of transaction details

  • Property Type: UCLA Sorority House Conversion to Student Housing
  • Transaction Amount: $6,600,000
  • Loan Amount: $5,675,000
  • Loan Type: Acquisition
  • Loan Terms: $5,675,000 on $6,600,000 Purchase (70% LTC Including Capex Budget)
  • Market: Westwood, Los Angeles, CA
  • Landlord: Ari Chazanas & Robert O'Neill - Affinity House
  • Brokers: David Oheb, Max Jacobson & Dorian Aftalion - Meridian Capital Group

Max Jacobson, David Oheb, Robert O'Neill, Ari Chazanas, and Dorian Aftalion played key roles in this transaction. For more information on how Meridian can add value to your portfolio on your next financing, please contact David Oheb at 212-612-0193 or [email protected].

Players

  • All

    4

  • Agents

    3

  • Agencies

    1

Max Jacobson's profile picture
Max Jacobson
Meridian Capital Group-image
Associate
$20M Sold
David Oheb's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Max Jacobson, David Oheb, Robert O'Neill, Ari Chazanas & Dorian Aftalion DATE: 11/08/2023 ADDRESS: 624 Hilgard Avenue MARKET: Westwood, Los Angeles, CA ASSET TYPE: UCLA Sorority House Conversion to Student Housing LANDLORD: Ari Chazanas (@AriChazanas) & Robert O'Neill (@Rd.ONeill) - Affinity House BROKERS: David Oheb (@TeamOheb), Max Jacobson (@Max_Jacobson) & Dorian Aftalion (@DorianAftalion) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $5,675,000 LOAN TYPE: Acquisition LOAN TERMS: $5,675,000 on $6,600,000 Purchase (70% LTC Including Capex Budget) NOTE FROM BROKER: Affinity House has acquired 624 S Hilgard, the former Alpha Gamma Delta UCLA Sorority house with plans to convert the property into UCLA’s most desirable off-campus Student Housing complex. The property, located on Greek row directly across the street from UCLA, includes 21 bedrooms, a full commercial kitchen, and expansive indoor and outdoor common areas for entertainment, studying, and dining. Affinity House is actively seeking new acquisition opportunities for student housing, co-living, and independent living in Los Angeles. Please send opportunities to [email protected]. For more information on how Meridian can add value to your portfolio on your next financing please contact: - David Oheb - 212-612-0193 - [email protected] House

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