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].