Developer Sells Senior Living Facilities in Riverside

A develop has sold two active-living senior housing projects in Riverside for nearly $7 million to two separate buyers. The properties include Orangeville Senior Living, a 23-unit building that sold for approximately $4.43 million, and Madison Villa Arms that sold for $2.45 million.

The sales are indicative of the strong demand for senior housing. According to research from CBRE, most investors are looking to allocate capital to senior housing investment this year.

CBRE’s Blake Torgerson and Eric Chen represented the seller and the two buyers in the deal.