Champion Real Estate Co. CEO Bob Champion said the state is seeing a housing shortfall of 3.5 million to 4 million units, a number that could grow to 6 million units by 2030. Champion estimates Los Angeles needs to manufacture 2 million units of housing in the next 10 years to keep up with demand. He said currently the city is only producing 22,000 units of the 180,000 units needed annually to meet the minimum demand…. “It’s not an affordability problem,” Champion said. “It’s a supply problem. The lack of supply is pushing up the cost of housing in areas that are most desirous to live.”
CBRE announced that Supertoro and HiroNori Craft Ramen have signed leases at Brick Works, a retail collective in the Echo Park neighborhood of Los Angeles. Zachary Card, Erik Krasney and Jamie Rogers of CBRE represented the landlord, Champion Real Estate Company, in the lease agreement. Located in the heart of Echo Park at 1485-1501 W. Sunset Boulevard, Brick Works is a new adaptive reuse development, comprised of several transformed mid-century buildings with more than 15,000 square feet of retail and restaurant space.
In January 2019, Champion SLU, LLC successfully completed the refinance of the Acquisition Bridge Loan with the Senior Refinance Loan. We are excited to own Union Bay Apartments over the long term. The property is a low leverage, Class A property in the core South Lake Union submarket with strong and growing annual cash distributions with forecasted continued asset appreciation.
In 2019, the USC Sol Price School of Public Policy celebrates its 90th anniversary. This momentous occasion represents a major milestone in the history of the School. At an awards dinner earlier this week, Bob Champion was recognized as a Price Pioneer in Real Estate development. A video showing those recognized can be found here.
By Greg Cornfield | September 24, 2018 03:00PM
Champion Real Estate Company is doubling up on its investment in Glendale multifamily projects this year.
The most recent acquisition includes a 36-unit apartment community at 348 W. Chevy Chase Drive, and a 26-unit community at 1119-1123 E. Elk Ave. Champion will begin a $2.6-million renovation for both the interior and exterior. The plan includes retrofitting both properties and addressing deferred maintenance issues, Champion explained in a release.
Student housing is generally more resilient than multifamily in a downturn, and the current tight supply of student housing in Los Angeles is putting upward pressure on rents.
By Kelsi Maree Borland | September 13, 2018 at 04:00 AM
Student housing is having a moment. A tight supply of student housing is putting upward pressure on rents—even more so than the tremendous rent growth in multifamily. But, the strong rent growth isn’t the only reason to buy student housing. The apartment niche is also more resilient in a downturn than multifamily, and as we get later in the cycle, downside protection is attractive to investors. Champion Real Estate Co. is actively investing in student housing assets near USC, and is very bullish on the sector.
An affiliate of Champion Real Estate Company has sold the redeveloped Grand & Alosta in Glendora to Clarion Partners.
HFF, which represented the seller declined to provide a price, but a source with knowledge of the deal said it sold for $34.2 million.
Clarion Partners acquired the 70,811-square-foot grocery-anchored retail center at the intersection of Grand and Alosta Avenue along Historic Route 66. The property is co-anchored by Sprouts and Marshalls and is 100 percent leased, according to a release from Champion Real Estate.