Northmarq’s Westlake Village Multifamily Investment Sales team led by Jim Fisher, Mike Smith, Vince Norris and Tommy Yates has just listed a four-property senior living portfolio totaling 705 units. Northmarq is representing the seller.
The mixed-income, age-restricted senior living portfolio offers an investor immediate presence in the senior housing market and includes:
• Coventry Court Luxury Senior Apartments | Tustin, California
• Burbank Senior Artists Colony | Burbank, California
• NoHo Senior Arts Colony | North Hollywood, California
• The Piedmont Luxury Senior Apartments | North Hollywood, California
“This exceptional portfolio offers buyers immediate scale in the Southern California senior housing market. Seniors are the fastest growing sector of the population, and these four assets provide best-in-class living with innovative amenities,” said Fisher. “In a market with a scarcity of available product, these deals provide great long-term investments with significantly below market rate assumable financing.”
Coventry Court Luxury Senior Apartments was built in 2012 and serves residents 55 years and older. The luxe community boasts large, lavish interiors and outstanding amenities. The 240-unit property features 133 homes subject to income restrictions (50, 60 and 110% AMI levels) and 87 units at market rent levels.
Burbank Senior Artists Colony (SAC) offers independent living in an art-inspired environment for residents 55 years and older. The community was built in 2005 and has been honored with numerous building awards. Totaling 141 units, Burbank (SAC) features 44 income-restricted homes at 50% AMI levels.
NoHo Senior Arts Colony (SAC), a 126-unit senior living community, welcomes residents 62 years and older and was built in 2012. The property offers residents exceptional amenities, programs and social events including a visual arts studio, digital arts room and a stadium-style performing arts theater. NoHo SAC features 27 income-restricted apartments at 50% AMI levels and 99 units at market rent levels.
The Piedmont Luxury Senior Apartments boasts 44 units subject to income restrictions at 50% AMI and 154 units at market rent levels with a total of 198 units. The age-restricted community serves residents 62 years and older and offers modern floorplans with a variety of amenities.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes.
