a day ago
- Business
- Los Angeles Times
Tustin Senior Housing Complex Sold for $83 Million
Los Angeles-based real estate investor Meta Housing Corp. sold a 240-unit senior housing apartment complex known as Coventry Court, located at 16000 Cambridge Way in Tustin, for $83 million, or $346,000 per unit.
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.
