Fountain Valley Village LLC has paid about $3 million for theproperty, which is part of the Fountain Valley Regional HospitalCampus. It is located on Warner Avenue, between Euclid Avenue andNewhope Avenue.

Fountain Valley Village plans to break ground on the new projectsometime this fall. Completion of the 200-unit project is slatedfor spring 2002.

David Stolte and Jeff Searcy, both of Charles Dunn Co.'s SeniorHousing Group, represented buyer and seller, Fountain Valley SeniorHousing LLC. "With a shortage of more than 8,000 senior housingunits facing Southern California, this development will providedneeded opportunities for seniors wishing to age in place," saysStolte.

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