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BURBANK, CA-VinCal Senior Housing of Newport Beach has acquired the Burbank Gardens Retirement Hotel at 2721 Willow St. from Arcadia Health Care Centerfor $12.5 million, according to Colliers International. George Stavaris, a vice president based in the Encino office of Colliers, reports that under VinCal’s ownership the eight-story, 115,000-sf hotel will provide its residents with “premier hotel and health care services on a month-to-month basis.”

Stavaris says that VinCal saw great potential in the location of the property, which is situated across from the NBC Studios and down the street fromSt. Joseph Medical Center in an area where a surge of development is under way. VinCal has begun upgrades on the hotel, which was built in the mid-1980s, and the Newport Beach-based company anticipates that it will complete the project in the first quarter of 2008.

The hotel has been vacated for the upgrades, which will transform it into a modernassisted living and Alzheimer’s care community, according to Stavaris. VinCal was represented by Stavaris along with Camilo Fabros and William Gloege of ColliersInternational’s Century City office. The seller was represented in-house by Orlando Clarizo Jr.

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