Avanath Capital Management has acquired its second senior housing community in Orange County in less than 90 days, Overlook at Anaheim Hills in Anaheim Hills, California.
The 261-unit mixed-income senior apartment community was purchased for $87.5 million.
“Overlook is our second acquisition in our home county of Orange County over the past few months,” said Daryl Carter, founder, chairman and CEO of Avanath Capital Management. “Overlook at Anaheim Hills is a senior community, which is a very attractive property as the aging Baby Boomer generation is continuing to downsize and look for quality housing options that are also affordably priced. In fact, the Anaheim market has an exceedingly limited senior housing supply and increasing call for units. Compared to newer senior construction that is closer to the Pacific Ocean, Overlook provides a more affordable option, larger units sizes, and is located in a highly desirable location.”
Built in 2001, Overlook
