Universe Holdings Refinances LA Senior Housing
The 172-unit property is located in the San Fernando Valley
By Greg Cornfield May 13, 2022 7:30 pm
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Senior housing occupancy is expected to rebound in the next half decade as occupancy rates have already begun rebounding from the pandemic lows of 2020.
Universe Holdings secured a $30.1 million for Nantucket Creek, a 172-unit, garden-style, apartment community that is restricted from residents under 55 years old in Los Angeles’ Chatsworth neighborhood in the northern part of the San Fernando Valley. JLL (JLL) announced the loan worked on behalf of the borrower to secure the 10-year, fixed-rate loan through Freddie Mac (FMCC).
“The attractive financing from JLL allows us to optimize our investment as well as provide us with a significant amount of fresh capital to pursue future acquisitions,” Henry Manoucheri, CEO of Universe Holdings said in a statement.
The Nantucket Creek community is located at 9225 Topanga Canyon Boulevard along State Route 27. It includes one- and two-bedroom units ranging from 623 to 1,100 square feet. It also features a clubhouse, billiards room, shuffleboard court, pool table, fitness center, library, recreational room and walking trails.
The JLL team representing the borrower was led by Charles Halladay, Jonah Aelyon and Elle Miraglia.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
