Universe Holdings Buys Southern California Townhome Community
The investor has been steadily growing its footprint in the area of late.
Hacienda Villas. Image courtesy of Universe Holdings
Universe Holdings has completed its $12.6 million purchase of Hacienda Villas, a 34-unit townhome-style multifamily development located at 10829 Del Norte St. in Ventura, Calif. A Northmarq team brokered the sale on behalf of the property’s previous owner.
Hacienda Villas was built in 1977 and hosts a mix of two- and three-bedroom family-oriented apartments. Universe will complete the previous owners’ ongoing interior renovations of the property, in addition to enhancing the building’s exteriors and common areas.
Situated adjacent to the Santa Paula Freeway, the community offers quick access to many of the city’s top employers such as Amgen, General Dynamics, Volkswagen and Ixia. In recent years, Ventura County has become a nexus of tech, energy and healthcare-related investment, growing out of its previous locale as a defense and agriculture-dependent economy.
Universe’s other endeavors
Over the past four years, Universe has considerably expanded its presence across LA. The purchase of Hacienda Villas is the firm’s second Ventura acquisition this year, following its $14.55 million acquisition of Capes at Ventura a 400-unit community 5 miles away. Additionally, the firm acquired Stonegate Apartments, a 160-unit market rate development in Riverside, in addition to completing a $30 million refinancing of Nantucket Creek, a senior housing community in Chatsworth. Furthermore, the firm plans to invest another $100 million in the region over the next two years.
Another recent high-profile transaction in the Ventura area was the $93 million sale of The Vines at Riverpark, a 164-unit luxury community in Oxnard.
