CBRE Arranges $15M Sale of Two Seniors Housing Properties in Orange, California
ORANGE, CALIF. — CBRE has arranged the sale of two seniors housing communities in Orange, approximately 33 miles southeast of downtown Los Angeles.
Marlon LTD, a private partnership, acquired the two newly constructed apartment communities from RC Hobbs Cos. for $15 million. The sale was an exchange dependent on Marlon selling two older properties in nearby Tustin.
The seniors housing apartments included a 28-unit property at 184 N. Prospect St. and a 12-unit property at 130 S. Hewes St.
CBRE’s Dan Blackwell represented Marlon and RC Hobbs in the transactions. Korkees LP, another exchange buyer represented by Blackwell, purchased the two older assets in Tustin.