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.

 

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.