Known as the Darnan Senior Apartments, the multifamily property is geared at active, independent residents who are 62 years old and over. Built in 1989, the 28-unit complex is located at 212 S. Orange Ave., in the area of the Birch Street redevelopment project. "This location for senior apartments has really high demand," says Ed Diaz of Vanguard Investment Properties, who brokered the deal for the buyer. Residents in the area enjoy a truly urban lifestyle, with spring's completion of 149,000 sf of retail, 18,000 sf of restaurants and 13,000 sf of office space into Downtown Brea.

TLC America Inc. is the seller. David Stolte and Jeff Searcy, both of Charles Dunn Co.'s Senior Housing Group, along with Charmaine Alexander of Charles Dunn Co.'s Sherman Oaks office, represented TLC American Inc.

"The reality is that there is very little seniors multifamily product out there to buy and there is tremendous demand," says Diaz. "When a property like this goes up for sale, it's a great opportunity for an investor.