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.

OCTOBER 21, 2016 | BY NATALIE DOLCE

LOS ANGELES—Demand from both individual renters and investors for apartment homes and buildings has intensified. To meet this growing need, developers have expanded the volume of new construction. This, of course, leads to a quandary. On one hand, multifamily builders want to create the best product to lure both renters and potential investors. On the other hand, the costs of construction materials, land and labor remain high and loans are becoming more expensive due to Dodd-Frank regulations.

In a RealShare Apartments panel titled: Clearing the Hurdles: Development Update, expert panelist addressed the question of how today’s apartment developers are managing to pencil deals out in this climate, among other things.

Panelist Jim Andersen, SVP of Trammell Crow Co., said that in Los Angeles specifically, there has been a tremendous amount of development over the past five to seven years. “Some of the more desirable Westside neighborhoods have been inundated with developments,” he said. However, Andersen pointed out that thanks to a few major initiatives on the ballot, the price of development could go up and take longer and we could see a significant slowdown on L.A.’s development momentum.

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COSTA MESA, CA—Millennials are not looking for their piece of the rock like previous generations did—and many wouldn’t qualify for a home loan even if they were, said panelists at RealShare Orange County here Tuesday. These are among the many factors that make for a continued robust multifamily market—particularly in Orange County, where home prices are high.

Speakers on the panel, “Multifamily: On the Rise or at its Peak” were consistent in their appraisal of the market as far from over, although it depends which market you’re looking at, said Gary Goodman, SVP | acquisitions for PASSCO Cos. LLC. Goodman said the largest group of Americans is age 23, and they have college debt and are waiting longer to marry and have children, which means they tend to rent apartments for longer than previous generations did. “There are a lot of structural changes going on in multifamily that bode well for the industry—we have a long way to go.”

Chuck Packard, CFO for Pacific American Real Estate Development, said that regulations like Dodd-Frank will limit lending for home mortgages, which is good for multifamily. He added that “Millennials are not looking for their piece of the rock like we did,” another good sign for the sector.

Moderator Bob Champion, founder, president and managing director for Champion Real Estate Co., said the market is strong because there’s “still tremendous undersupply.” He added that we could be looking at multiple cycles at work, with the end of a credit super-cycle near.

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Shortly after launching Champion Real Estate Company in 1987, Founder, President and Managing Partner Bob Champion saw it all clearly – buy the right properties and do the right things with them, and a firm can have a lot of success.

Over the past three decades, Champion Real Estate Company has completed projects in excess of $1 billion and has achieved an average approximate yield of more than 20 percent since 1995. Staying true to the firm’s recipe for success has also resulted in multiple awards, including recognition for shopping centers, transit-oriented projects, public-private partnerships and historic renovations.

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As a plethora of mixed-use projects continue to be built all over LA, attendees at Bisnow’s LA Multifamily and Mixed-Use event on Wednesday heard ideas and predictions about what the future may hold and whether the trend will continue.

More than 500 commercial real estate pros converged on the Montage Beverly Hills for the meeting.

Sklar Kirsh founding partner Andrew Kirsh (second from left) moderated the panel discussing mixed-use as a new living experience, which included The Ratkovich Co’s COO Clare DeBriere; CityLife Parking’s CEO Scott Gable; MVE + Partners VP Richard Castillo; and Champion Real Estate Co CEO Robert Champion.Read More