Champion Real Estate acquired two apartments in Glendale for $33.6 million in an off-market transaction, with renovations planned on both.
The properties are the 62-unit Windsor Real on Windsor Road; and the 42-unit Princess Louise on Louise Street. Both date from the early 1970s. All are market-rate units, which average 951 square feet.
Ownerhip at The Princess Louise last changed hands in 2016, while The Windsor Real has had the same owner since 1998.
The purchase is in line with Champion’s business, which specializes in properties that need work but are in prime locations. Its portfolio includes locations in Southern California, Seattle and Nashville, Tennessee, according to its website.
The Windsor Real and Princess Louise are the company’s first in Glendale. Los Angeles-based Champion owns a handful of multifamily developments around the city, along with retail properties.
In November, Champion said it would make all 210 units at its 6220 Yucca development in Hollywood rent controlled.