Arka Properties, Black Equities Sell Affordable Seniors Housing Community in San Diego for $47M

SAN DIEGO — Arka Properties and Black Equities have completed the disposition of Lakeshore Villa Apartments, an affordable seniors housing property in San Diego’s San Carlos nieghborhood, to an undisclosed buyer for $47 million. Otto Ozen, Shawn Bolour and Jordan Pakzad of The Mogharebi Group represented the seller in the deal.

Located at 6888 Golfcrest Drive, Lakeshore Villa features two three-story buildings offering 126 one-bedroom/one-bath floor plans with an average unit size of 520 square feet.

Lakeshore Villa Apartments benefits from a 100 percent Senior HUD HAP Contract, ensuring stable income and long-term occupancy. The buyer plans to invest capital into the property and has committed to extending the affordability of the asset.