Time New York: Sun 19 Aug 05:37 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Champion Acquires The John Tracy Clinic Property Near USC

Champion Acquires The John Tracy Clinic Property Near USC

PR Newswire

LOS ANGELES, Feb. 8, 2018 /PRNewswire/ — Champion Real Estate Company (“Champion”) is pleased to announce the acquisition by its affiliate, 806 West Adams Property, LLC, of The John Tracy Clinic located at 806 West Adams Boulevard. The property is located in the University Park Area near USC and includes 40,000 square feet of buildings and 2.5 acres of land.

The property has initially been acquired as a leased investment. However, a substantial portion of the purchase price is contingent on Champion and its affiliate executing on their vision to bring residential uses to the urban-infill site.


According to Gaston Kent, President of the Clinic, “the sale of the property will allow the Clinic to relocate to a smaller property nearby that is better suited for the Clinic’s needs and the contingent purchase price will help assure the long-term financial viability of the Clinic.”

“We selected Champion and its affiliate as our buyer because we believe they are best suited to work with us and the City on a comprehensive development plan,” states Kent. “Champion has consistently demonstrated its ability to design successful projects.”

When asked about the plans for the property, Garrett Champion, Senior Vice President of Champion responded, “We have always prided ourselves on our ability to design projects that bring the highest and best uses to a neighborhood. We are presently working with the Clinic and our consultants on a plan to ensure the project will be consistent with the neighborhood and the City’s vision for the community.”

The John Tracy Clinic was founded in 1943 by Louise Treadwell Tracy. The Clinic’s mission is to “Provide parent-centered services locally and globally to young children with hearing loss, offering families hope, guidance and encouragement”.

About Champion Real Estate Company

Champion Real Estate Company is a Los Angeles-based real estate developer, investor and advisor. Champion’s 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.

For more information, visit www.ChampionRealEstateCompany.com.

Press Contact:
Rebecca Binny
C: (310) 334 9942
rbinny@championdev.com

Cision View original content:http://www.prnewswire.com/news-releases/champion-acquires-the-john-tracy-clinic-property-near-usc-300595573.html

SOURCE Champion Real Estate Company

<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.