$30.315M refinancing secured for senior apartment community in Southern California
JLL Capital Markets led the refinancing efforts for the 172-unit Nantucket Creek in Chatsworth, California
LOS ANGELES, May 9, 2022 – JLL Capital Markets, on behalf of Universe Holdings, has arranged a $30.315 million refinancing of Nantucket Creek, a 172-unit, garden-style, age-restricted (55+) apartment community in Chatsworth, California.
JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. Proceeds from the loan also provided a return of equity to Universe’s balance sheet.
“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,” said Henry Manoucheri, CEO of Universe Holdings.
Nantucket Creek comprises one- and two-bedroom units ranging from 623 to 1,100 square feet. Apartments feature individual heating and air, gas ranges, hardwood floors, large closets, high ceilings and private patios/balconies. The community features a clubhouse, billiards room, shuffleboard court, pool table, fitness center, library, recreational room, walking trails, horseshoe pit and more.
Positioned at 9225 Topanga Canyon Blvd., the community is conveniently located along CA-27, providing access to local retail and dining centers, as well as Chatsworth Dry Lake Nature Preserve and West Hills Hospital and Medical Center.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Charles Halladay, Director Jonah Aelyon and Analyst Elle Miraglia.
Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Universe Holdings
Universe Holdings was established in 1994 by Henry Manoucheri after his transition from a highly successful 15-year career as a multi-housing investment brokerage specialist at Marcus & Millichap. Two decades later, the company has completed investment transactions encompassing the purchase and sale of more than 6,000 units of multifamily housing. Today, the company owns and internally operates a diverse portfolio of multifamily holdings in Southern California’s largest cities and highest barrier-to-entry coastal markets.