Community Preservation Partners has acquiredGolden West Tower Apartments, a senior housing center in Torrance,for $73 million in a joint venture with Jonathan Rose Cos. Thejoint venture is planning a $10 million renovation of theproperty.

"Golden West Tower represents the ideal asset—it's a communitythat is directly aligned with our mission and vision,"Karen Buckland, VP at CPP, tells GlobeSt.com."This asset is an aging senior project that appears to befunctioning fine on the surface, but when looked at closer it istired and needs modernizing and overall reenergizing. It's an ideal opportunity for CPP to physically improve thebuilding and enhance the environment for the residents. Our aging population is one of the most vulnerable, so being ableto play a small part in making our residents lives meaningful andmore enjoyable is part of what we try to achieve as a company."