$ 25 million Grace Gardens memory care complex opens in Santa Ana – Orange County Register
Gardens of Grace, a two-story, $ 25 million memory-care facility for Town & Country in Santa Ana, has completed construction and is open to new residents.
CW Drivers Cos. was the builder of the 50,564 square foot facility, which is part of the Town & Country faith association at 501 East Memory Lane. Grace Gardens has 48 private and semi-private studios divided into four neighborhoods for certain cognitive needs and resident preferences. Reservations for one unit currently require a deposit of $ 3,500.
Each neighborhood has a living room, a large room and a therapeutic kitchen where residents can do cooking activities and share meals. There is also a 3,000 square foot central garden, sun terrace, bistro, quiet bedrooms, beauty salon, activity rooms, lounges and media room.
“Housing for people living with cognitive disabilities requires additional safety and security tools, which we have successfully navigated for this type of niche project, working closely with the County Fire Department of Orange to maintain emergency exits during construction and adapting to the COVID-19 protocol without missing a single day, ”said Andy Feth, project manager at CW Driver, in a statement.
Grace Gardens also has an underground car park with 52 spaces for residents and visitors. Standard offices for staff, a medical records room and conference rooms are part of the administrative spaces.
CW Driver worked with the architectural firm Hochhauser & Blatter Architecture & Planning to complete the project.
For more information on the establishment, visit gracegardensmemorycare.org or dial 714-547-7581.
24-unit complex in Santa Ana sells for $ 5.5 million
Standard Avenue Apartments in Santa Ana were sold for $ 5,580,000 or $ 232,500 per unit, according to Marcus & Millichap.
The 14,776 square foot apartment complex located at 1013 and 1017 S. Standard Ave. has 24 one bedroom and one bathroom units.
Greg Bassirpou of the Marcus & Millichap office in Newport Beach represented the unidentified vendor. The buyer has not been named.
Los Alamitos apartments sell for $ 4.5 million
Howard Avenue Apartments in Los Alamitos was sold for $ 4,500,000 or $ 450,000 per unit, according to Marcus & Millichap.
This was the first time the 10-unit property had changed ownership since it was built in 1985.
“Besides the excellent location and being in the award winning Unified School District of Los Alamitos, the buyer was able to take advantage of the opportunity to acquire a well maintained property that offers a good increase in rents,” said Greg Bassirpou with Marcus & The Millichap office in Newport Beach.
The 10,639 square foot complex located at 3962-3970 Howard Avenue has nine two-bedroom units and one three-bedroom unit.
Valvoline property sells for $ 3M
A single tenant property occupied by Valvoline at 400 East 17th St. in Costa Mesa sold for $ 3,109,000, according to Kidder Mathews Walseth Net Leased.
The buyer was Henley Enterprises, a Massachusetts-based owner-user in a recurring 1031 exchange. The unidentified seller was represented by Michael Walseth, executive vice president of Kidder Mathews.
The 902 square foot building sits on 0.22 acres at the intersection of 17th Street and Tustin Avenue.
The same Kidder Mathews team also recently closed the $ 5.95 million sale of a 7-Eleven at 1920 W. Balboa Blvd in Newport Beach and the $ 5.33 million sale of a Circle. K at Harbor Pacific Court Mall at 2346 Newport Blvd in Newport. Beach.
Nuveen invests in IE
Nuveen Real Estate, based in Newport Beach, purchased a 236,700 square foot industrial building in Ontario on undisclosed terms.
The seller was the occupant of the building, Myers Power Products, a manufacturer of low voltage electrical equipment. The company will lease the facility, according to Chris Migliori, executive vice president of DAUM Commercial.
“The tenant has invested a significant amount of capital in the property over the past 12 years of ownership and occupancy. integration and testing, ”Migliori said in a statement.
Myers signed a five-year triple net lease with Nuveen, he said.
The property at 2950 E. Philadelphia St. spans 12 acres and features two oversized ground-level loading doors, 35 dock-height loading positions, 155-foot truck lot, 4000 amps and a fenced yard.
Bascom buys resort in Florida for $ 80 million
Bascom Group, based in Irvine, purchased a 405-unit apartment complex in Lauderhill, a community in the city of Fort Lauderdale, Fla., For $ 79,250,000 or $ 195,679 per unit.
Sunny Lake Apartments was acquired through a Bascom partnership with Duff Bedrosian of East Hill Capital. This is Bascom’s third purchase in Florida.
“The Fort Lauderdale MSA has strong multi-family fundamentals and is well positioned for continued economic growth,” said Jim Singleton, senior vice president at Bascom. “The market has seen double-digit rental growth as well as over 30% year-over-year growth in home values. “
The Bascom team said they plan to modernize the interiors and common areas of Sunny Lake.
New office at the beach
Surterre Properties has opened an office at 34183 Pacific Coast Highway, Suite B, in Dana Point.
The brokerage was founded in 2006 and has 300 agents and employees working in offices that also include locations in Laguna Beach and Newport Beach.
For more information, visit SurterreProperties.com.
Real estate transactions, leases and new projects, industry hires, new businesses and upcoming events are compiled from press releases from editor Karen Levin. Email items and high-resolution photos to Business Editor Samantha Gowen at [email protected] Please allow at least a week for publication. All elements are subject to change for clarity and length.