Universe Holdings acquires $53.370 million multifamily property in California’s Inland Empire
Yield Pro, September 8, 2022
Universe Holdings has acquired the Stonegate Apartments (Stonegate), a 160-unit multifamily community in Southern California’s Inland Empire city of Riverside, in an off-market transaction worth $53.370 million. The Los Angeles-based real estate investment firm plans to invest $100 million in the market over the next 24 to 36 months. Read More.
Universe Holdings Acquires 160-Unit Multifamily Property in Riverside for $53.37M
The Registry, September 8, 2022
Universe Holdings has acquired the Stonegate Apartments (Stonegate), a 160-unit multifamily community in Southern California’s Inland Empire city of Riverside, in an off-market transaction worth $53.370 million. The Los Angeles-based real estate investment firm plans to invest $100 million in the market over the next 24 to 36 months. Read More.
Henry Manoucheri, CEO & Founder Universe Holdings
LA Times
As founder and CEO of Universe Holdings, Henry Manoucheri oversees all areas of operations for his company. His successful and ethical approach to doing business over the last three decades has helped Universe attract a growing network of investors, enabling the company to grow in both size and scope. Read More.
How Interest Rate Hikes Will Impact CRE
Commercial Property Executive, June 16, 2022
Economists and industry executives weigh in on the Fed’s decision to raise the benchmark rate by 75 basis points. Manoucheri expects to see a big shift in the market because some owners will take their properties off the market for the next several years if they can’t get the price they would have gotten just a few months ago. Read More.
How the Latest Rate Hike Impacts Multifamily
Multi-housing News, June 16, 2022
The highest interest rate increase in decades has the industry anticipating that investors will start changing course. Universe Holdings has about $200 million in deals in escrow that will have to be repriced due to the change in their cost of capital and lenders’ more stringent underwriting standards. Read More.
Universe Holdings Refinances LA Senior Housing
Commercial Observer, May 13, 2022
Universe Holdings secured a $30.1 million for Nantucket Creek, a 172-unit, garden-style, apartment community that is restricted from residents under 55 years old in Los Angeles’ Chatsworth neighborhood in the northern part of the San Fernando Valley. Read More.
Universe Holdings Lands $30M Refi for LA-Area Senior Housing
Multi-housing News, May 10, 2022
Universe Holdings has secured a $30.3 million loan for the refinancing of Nantucket Creek, a 172-unit senior housing community in Chatsworth, Calif. The company will use the loan to optimize the 172-unit asset and pursue future acquisitions. Read More.
Leases Rent Asunder by Moratorium
Los Angeles Business Journal, March 28, 2022
Henry Manoucheri, the chief executive of Universe Holdings — a Century City based multifamily investment firm with 3,000 units in Southern California — estimates that more than 300 of his tenants owe back rent. A lot of it. As in two years’ worth, in many cases. Read More.
The Allure of Class C Apartment Properties
GlobeSt.com, November 1, 2021
The institutional market is flush with capital and with the bidding frenzy, many are turning to the class C space to find a better cap rate, say panelists during a session at last week’s national GlobeSt. Multifamily conference. Read More.
Universe Holdings Makes Its First Acquisition Outside California
Los Angeles Business Journal, June 27, 2021
Century City-based Universe Holdings Development Co. has purchased a 226-unit townhome community in New Jersey, the company’s first acquisition outside of California. It is also the company’s first deal out of its New York office. Read More.