Feb
07
CHAMPION COMPLETES $33.6M DEAL FOR TWO VALUE-ADD ACQUISITIONS IN GLENDALE

JANUARY 31, 2018 (Los Angeles, CA) – Champion Real Estate Company (“Champion”) recently completed the acquisition of two multifamily buildings for $33.6 million in the city of Glendale, California, which buildings are owned by a subsidiary of Champion, Champion Glendale Property, LLC. This purchase is an off-market acquisition that was negotiated simultaneously for the two buildings, totaling 104 market rate apartment units.

The two properties are located less than two miles apart. Princess Louise (“Louise”) was built in 1970 with 42 units, and Windsor Real (“Windsor”) was built in 1972 with 62 units. The properties include a large percentage of multi-bedroom units with an average size of 951 square feet.

Glendale and the cities of Burbank and Pasadena comprise the Tri-Cities of the eastern San Fernando Valley/Western San Gabriel Valley. The Tri-Cities are highly sought-after locations with strong schools, clean and accessible community parks, renowned shopping and restaurants, as well as relative affordability in the Los Angeles metro area.

“The Glendale apartment market is largely bifurcated with the vast majority of units either being new construction or dated and untouched 1960’s and 1970’s product. With a comprehensive improvement plan, Louise and Windsor will provide an upgraded, clean and professionally managed living experience at a steep discount to the new construction,” states Parker Champion, Executive Vice President.

“Providing larger-sized homes in an updated apartment community while maintaining affordability in such convenient and desirable locations will offer the Glendale community with more options to enjoy the desired lifestyle,” comments Parker.

Champion has over 30 years of experience in the multifamily market and previously completed similar value-add investment acquisitions including Villa Olive in Burbank, Casa Laguna in Los Angeles, Union Bay Apartments in Seattle, and Ancelle in Koreatown.

Louise is located at 720 N Louise St and Windsor at 1377 E Windsor Rd.

 

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About Champion Real Estate Company

Champion Real Estate Company (“Champion”) was founded in 1987 by veteran investor, developer and CEO, Bob Champion. Based in West Los Angeles, Champion’s strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent or gentrifying to core and implement value accretive improvements.

For more information, visit www.ChampionRealEstateCompany.com.

Apr
05
Urbanize.LA: Student Housing Rises Near USC

By STEVEN SHARP on March 29, 2017, 1:40PM

New Apartments near USC

A half-acre property north of the USC Campus is being transformed into a luxury student housing complex by local developer Champion Real Estate Company to provide USC Student Housing.

The Victory on 30th, located at the northwest corner of Vermont Avenue and 30th Street, will consist of a four-story building featuring 24 two-bedroom apartments and residential amenities.

Construction crews are already shaping the wood skeleton of the low-rise development, which renderings show will exhibit an industrial aesthetic, featuring an exterior of brick and metal panels.

Read full article

The Victory on 30th: Apartments Near USC
The Victory on Ellendale: USC Student Housing

Apr
05
LA Business Journal: Aging Echo Park Retail Buildings Acquired for $9.5 Million

By HELEN ZHAO

Monday, March 27, 2017

Champion Real Estate Company has acquired a collection of aging retail buildings on Sunset Boulevard in Echo Park for $9.5 million. The company plans to repurpose them into a mixed-use development of retail, restaurants, and residential lofts called BrickWorks.

The existing property includes nearly 19,800 square feet of retail space on 36,000 square feet of land. The buildings included in the deal comprise what are currently an Asian supermarket, a former Chinese barbeque restaurant space, a nearby two-story building, and a parking lot. The land was listed for sale in 2015.

BrickWorks will span 1485 to 1501 W. Sunset Blvd. It will include 15,000 square feet of retail space and a food court-style collection of eateries and restaurants. The number of residential units is currently being planned.

“The acquisition of BrickWorks is consistent with Champion’s strategy of acquiring properties at discounts in ‘A’ locations and we continue to focus on sourcing similar deals in surrounding neighborhoods,” Garrett Champion, senior vice president of Champion said.

Read Article

Mar
27
CHAMPION ACQUIRES $9.5M URBAN STREET RETAIL VALUE-ADD INVESTMENT IN ECHO PARK

MARCH 27, 2017 (Los Angeles, CA) – Champion Real Estate Company (“Champion”) announced its latest value-add retail acquisition for $9.5m, with plans to revitalize and rebrand the existing collection of dilapidated retail buildings into a retail and residential mixed-use development named “BrickWorks”.

The existing property includes 19,772 square feet of dated retail buildings on 36,049 square feet of land in the burgeoning neighborhood of Echo Park. Champion intends to repurpose and remodel the existing property to include an eclectic collection of distinctive restaurants and residential lofts.

“The property is sandwiched between upscale Silver Lake and Downtown Los Angeles in Echo Park, which  was dubbed the ‘Greatest Neighborhood in Los Angeles’ by LA Weekly,” states Garrett Champion, Senior Vice President of Champion. “Combined with its location just blocks from Dodger Stadium, BrickWorks will provide trendsetting food and beverage focused retail to an underserved sub market.”

BrickWorks will boast over 200 linear feet of frontage along the heavily trafficked Sunset Boulevard and consist of approximately 15,000 square feet of prime retail space that will create a trendy food court-style collection of the latest eateries and restaurants.

 “The acquisition of BrickWorks is consistent with Champion’s strategy of acquiring properties at discounts in ‘A’ locations and we continue to focus on sourcing similar deals in surrounding neighborhoods,” states Garrett.

Champion has over 30 years of experience developing retail in Los Angeles and helped pioneer the first vertical retail power centers such as Brentwood Place and the One Westside Shopping Center. Last year, Champion acquired Grand + Alosta in Glendora, CA, a former 80,000 square foot freestanding building that is currently being redeveloped into a specialty grocery center with Marshalls and Sprouts anchoring the project.

BrickWorks is located at 1485-1501 W. Sunset Blvd in Echo Park and was acquired by an affiliate of Champion.

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About Champion Real Estate Company

Champion Real Estate Company was founded in 1987 by nationally recognized investor, developer and CEO, Bob Champion.  Based in Los Angeles, Champion’s strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent, or gentrifying to core, and implement value accretive improvements. Champion acquires and develops multiple product types including multifamily, retail, office, mixed-use, adaptive re-use of industrial buildings and historical renovations. Since 1995, Champion has completed projects valued in excess of $1 billion. For more information, visit www.ChampionRealEstateCompany.com.

Mar
16
LA Times: After Measure S, some L.A. developers say they’ll step more softly with new projects
By Andrew Khouri and Roger Vincent

As the city debated slow-growth Measure S, developer Century West Partners refused to buy land that would need special exemptions to build, fearful the two-year moratorium on such projects would pass.

This week, the Los Angeles initiative went down to a resounding defeat at the polls, losing by more than a 2-to-1 margin. Now if a broker called with such a deal, Century West may bite.

“We are going to answer the phone,” said Kevin Farrell, the chief operating officer of Century West, which has built about 1,000 housing units in Los Angeles over the last four years.

But Farrell and other developers said they aren’t taking the vote as a mandate to go on an acquisition and building spree. Instead, they said voters simply rejected an “extreme” measure amid a housing shortage — but one that exposed deep resentment among Los Angeles residents.

“It reminds us to step carefully,” Farrell said.

Going forward, he and others said they’d more carefully scrutinize potential deals to ensure the community and the local City Council member is on board, especially for developments that need council approval.

“In part, that’s because council members themselves are likely to look closer after an uproar from some of their constituents,” said Bob Champion, a Los Angeles developer currently asking for a zoning change to build a large mixed-use complex in Hollywood that would require the demolition of rent-controlled apartments.

Champion said he agreed before the Measure S vote to allow existing tenants the option to live at his new project at Yucca Street and Argyle Avenue at their current rents. He also said that while the project is being built, he would pay the difference between tenants’ current rent and the rent at whatever temporary place they find in the area.

Feb
15
CHAMPION TARGETS SEATTLE WITH A $24M OFF-MARKET MULTIFAMILY ACQUISITION

FEBRUARY 15, 2017 (Los Angeles, CA) – Champion Real Estate Company (“Champion”) announced the acquisition of Union Bay Apartments, a 73-unit multifamily apartment community with 2,976 square feet of commercial space in South Lake Union. The property was purchased by an affiliate of Champion for $24m and is located in a prime submarket of the core Seattle metro area.

The property was built in 1994 and has been family-owned for 23 years. It consists of generously-sized studio, one, and two bedroom units that cater to the various demographic groups in the area. The building also has one of the largest usable roof decks in South Lake Union with views of the Space Needle and Lake Union.

“The acquisition of Union Bay Apartments is consistent with Champion’s simple mission to own and develop in “A” locations where people want to live,” states Parker Champion, Senior Vice President. “South Lake Union has transformed into a critical economic engine for the Pacific Northwest and more recently the housing, daily needs, and lifestyle retail have followed the jobs.”

South Lake Union is a fast-growing technology and bioscience hub to companies like Amazon, Dropbox, Google, Facebook, WeWork, the Paul Allen Brain Institute, Fred Hutch Cancer Research, and Zymogenetics. With an influx of young professionals earning substantial incomes into the South Lake Union area, Union Bay Apartments is in a prime renter’s market.

Champion plans to unlock additional value by installing professional local management and providing residents with an upgraded, luxury lifestyle and living choice.

“South Lake Union is a true Live, Work, Play submarket,” states Parker. “With Union Bay Apartments, Champion has planted its flag in the Seattle market and we are looking to further expand our footprint there immediately.”

 

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About Champion Real Estate Company

Champion Real Estate Company was founded in 1987 by nationally recognized investor, developer and CEO, Bob Champion.  Based in Los Angeles, Champion’s strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent, or gentrifying to core, and implement value accretive improvements. Champion acquires and develops multiple product types including multifamily, retail, office, mixed-use, adaptive re-use of industrial buildings and historical renovations. Since 1995, Champion has completed projects valued in excess of $1 billion. For more information, visit www.ChampionRealEstateCompany.com.

Dec
07
Multifamilybiz.com – Champion Acquires Value-Add Multifamily Community in the Heart of Koreatown Area of Los Angeles

LOS ANGELES, CA – Champion Real Estate Company announced the acquisition of a 30-unit multifamily property in the heart of Koreatown. The property, named The Bard Apartments, was purchased by an affiliate of Champion, and is located at 756 S. Normandie Avenue.

The property is currently almost fully occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (“RSO”). It consists of 23 studios and 7 one-bedroom units.

“The Bard Apartments is a great value-add investment in a core Los Angeles market,” states Parker Champion, Senior Vice President. “The investment allows for immediate cash flow and based on our prior success with RSO properties, we believe that we can create strong value-add returns.”

Prior to acquisition, several units had been renovated as part of a modest value-add improvement program. In addition to continuing to improve the units as they become available, Champion intends to expand on this effort by improving the curb appeal, common areas, and property amenities.

View full article

Dec
06
CHAMPION ACQUIRES VALUE-ADD MULTIFAMILY INVESTMENT IN PRIME KOREATOWN

DECEMBER 6, 2016 (Los Angeles, CA) – Champion Real Estate Company (“Champion”) announced this week the acquisition of a 30-unit multifamily property in the heart of Koreatown. The property, named The Bard Apartments, was purchased by an affiliate of Champion, and is located at 756 S. Normandie Ave.

The property is currently almost fully occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (“RSO”). It consists of 23 studios and 7 one-bedroom units.

“The Bard Apartments is a great value-add investment in a core Los Angeles market,” states Parker Champion, Senior Vice President. “The investment allows for immediate cash flow and based on our prior success with RSO properties, we believe that we can create strong value-add returns.”

Prior to acquisition, several units had been renovated as part of a modest value-add improvement program. In addition to continuing to improve the units as they become available, Champion intends to expand on this effort by improving the curb appeal, common areas, and property amenities.

 “Koreatown is quickly becoming a core market for investors and developers, especially for multifamily investments that can provide an immediate return,” says Parker. “Champion intends to continue to acquire multifamily properties in Koreatown as part of our investment strategy.”

Champion and its affiliates currently manage similar RSO properties in the Koreatown and Hollywood submarkets.

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About Champion Real Estate Company

Champion Real Estate Company was founded in 1987 by nationally recognized investor, developer and CEO, Bob Champion. Based in Los Angeles, Champion’s investment strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent, or gentrifying to core, and implement value accretive improvements to achieve above-market returns. Champion’s investment activities are based on its belief in investing across the spectrum of risk-adjusted returns and in multiple product types including multifamily, retail, office, mixed-use, adaptive re-use of industrial buildings and historical renovations. Since 1995, Champion has completed projects valued in excess of $1 billion. Champion invests on its own account and in partnership with select high net worth individuals, family offices and institutions. For more information, visit www.ChampionRealEstateCompany.com.

Nov
22
Champion Lays The Foundation For USC Student Housing

NOVEMBER 22, 2016 (Los Angeles, CA) – Champion Real Estate Company (“Champion”) announced that it is developing a new housing community called Victory on 30th (www.victory30.com), that will target young professionals, as well as students and faculty from the University of Southern California (“USC”). The class “A” 2-bedroom homes are located on the corner of 30th Street and Vermont, less than two blocks from USC campus.

For USC Student Housing, Victory on 30th offers an alternative to traditional and on-campus student housing in the area, providing a unique living experience to residents looking for apartments near USC. Champion plans to construct 24 flats each at approximately 930 square feet, with two bedrooms and two full bathrooms.

“Victory on 30th will redefine housing near the University of Southern California,” states Garrett Champion, Senior Vice President of Champion. “We are combining luxury, technology, and safety to meet the demand of today’s students and professionals.”

Upon completion, the flats will feature open floor plans, while top floor units will include 10-foot ceilings with private rooftop decks. The property will also have community roof and podium decks with entertainment facilities such as an outdoor kitchen with BBQ and television, as well as sun tanning and lounge areas. The property provides a 24/7 monitored security protection system, controlled building access, secure gated parking, and bike storage to the community.

“The boutique community will be a first of its kind to provide residents the luxury and amenities to truly enjoy the lifestyle they seek,” adds Garrett.

The property will be managed by Moss and Company with preleasing beginning in winter 2016. The flats will be ready for move-in for the 2017/2018 school year in August 2017.

Victory on 30th is located at 1275 West 30th Street, Los Angeles, CA 90007.

Victory on 30th: Apartments near USC
Victory on Ellendale: USC Student Housing

Victory on Portland: Off Campus USC Student Housing

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About Champion Real Estate Company

Champion Real Estate Company (“Champion”) was founded in 1987 by national investor, developer, and CEO, Bob Champion. Based in West Los Angeles, Champion’s investment strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent, or gentrifying to core, and implement value-accretive improvements to achieve above-market returns. Champion’s investment activities are based on its belief in investing across the spectrum of risk-adjusted returns and in multiple product types including multifamily, retail, mixed-use, office, adaptive re-use of industrial buildings, and historic renovations. Since 1995, Champion has completed projects valued in excess of $1 billion. For more information, visit www.ChampionRealEstateCompany.com.

 

ABOUT US
Champion specializes in value-add investing and development in “A” locations in urban-infill areas. The current investment portfolio includes properties in California, Seattle, and Nashville, and Champion is actively underwriting new investments in top 50 metro areas across the country.
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