Tustin Senior Housing Complex Sold for $83 Million
Northmarq's Los Angeles and Newport Beach investment sales teams, led by Jim Fisher, Vince Norris, Mike Smith and Tommy Yates, represented the seller. The buyer was New York-based Jonathan Rose Companies.
'Coventry Court is one of the most exceptional senior living communities in the country,' said Jim Fisher, managing director for Northmarq, in a statement. 'The mix of market-rate and affordable units, along with the exceptional construction quality, generated a very strong buyer pool.'
Coventry Court opened in 2013 and features income-restricted apartment units for residents aged 55 and older. Only 87 units are offered at market rate. The complex is in the master-planned Tustin Ranch neighborhood, near the Village at Tustin Legacy retail center.
Information for this article was sourced from Northmarq.
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