The Bascom Group, an Irvine-based real estate investment company, sold a 114-unit senior living apartment complex in Huntington Beach for $35 million, or $307,018 per unit, according to CoStar data. The buyer was not disclosed.
Huntington Breeze at 16171 Springdale St. had been under The Bascom Group’s ownership since 2014, when the real estate investment company bought the multifamily property for $19 million.
Marketing materials for Huntington Breeze show that the senior living property was built in 1987 and 96% occupied at the time the property was listed. New ownership could convert some spaces within the building into accessory dwelling units, or ADUs.
Huntington Breeze was listed by Joseph R. Berkson of Marcus & Millichap, Joe Leon of Voit Real Estate Services and Dean Zander of Newmark.
