HFF Closes Sale of 14-Property Senior Housing Portfolio
- May 12, 2015
Dallas—Holliday Fenoglio Fowler LP announced that it has closed the sale of a 14-property senior housing portfolio totaling 1,038 units located in California, Oklahoma, Ohio, Texas, West Virginia and North Carolina.
HFF marketed the portfolio on behalf of the seller, a joint venture between private funds managed by Iron Point Partners LLC and Meridian Senior Living LLC. ROC Seniors Housing Fund Manager LLC purchased the 14-property portfolio for an undisclosed amount. In addition, ROC Seniors agreed to purchase an additional 46-unit asset located in Ohio that will close at a later date. Meridian will continue to manage the properties.
The portfolio is comprised of a mix of independent living, assisted living and memory care units. Properties are located in Anaheim, Riverside, Culver City, Los Angeles, West Hills and Lompoc, California; Mustang and Oklahoma City, Oklahoma; Toledo, Ohio; Tomball, Texas; Elkins, West Virginia; and Fayetteville, North Carolina.
The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.
Marcus & Millichap brokers sale of property built in 1973
Corpus Christie, Texas—Marcus & Millichap announced the sale of Glen Willows Apartments, a 233-unit apartment community in Corpus Christi, Texas. The terms of the sale were not released.
Zar Haro, associate vice president investments in Marcus & Millichap’s San Antonio office, and Mike Moffitt Jr., senior associate in the firm’s Austin office, represented the seller, a limited partnership. The buyer is a limited liability company.
Built in 1973 on 10.3 acres, Glen Willows Apartments is located at 5802 Everhart Road in Corpus Christi within walking distance of an elementary school and minutes from two shopping malls, Sunrise Mall and La Palmera.
The apartment community’s floor plans include 32 one-bedroom, 128 two-bedroom and 47 three-bedroom single-level units and 26 two-bedroom/one-and-one-half-bath townhomes. The units feature central air conditioning, all-electric kitchens, spacious closets, patios and second-floor balconies. Community amenities include controlled access gates, two on-site laundry rooms, two swimming pools and a playground.