IRVINE, Calif. – August 20, 2019 – Berkadia today announced the $71 million sale of HW Senior Living Apartments, a 310-unit independent living community in Westminster, California. Managing Director Joe Leon and Associate Director Michael Thagard of Berkadia’s Irvine, California office completed the sale on behalf of the seller, California-based Zinn Group. The buyer was an experienced senior housing owner/operator who intends to maintain the community in the same pristine manner in which the Zinngrabe family has for over 30 years. The deal closed on August 8.
“In the last 30 years, only six non-assisted senior living communities have been built within the greater Westminster/Huntington Beach submarket, and consequently, occupancies are above 98 percent,” said Leon.
The “pride of ownership” community is located at 13920 Hoover St. and features one-of-a-kind beautifully manicured common areas with colorful flower beds lining the walking paths and two calming streams.