The senior living community Coventry Court in Tustin traded hands July 10, selling for $83 million, according to Northmarq.
The brokerage represented the seller, Meta Housing Corp. in Los Angeles. The buyer was Jonathan Rose Cos. in New York.
The deal closed July 10, Northmarq reps said.
The 55-and-older community in the Tustin Ranch neighborhood has 240 units, with more than half of them income-restricted. Only 87 units at Coventry Court are rented at market rates, according to Northmarq.
The apartments were completed in 2012 and sit not far from the blimp hangar that burned in 2023.
Bustling Fullerton Metrocenter sells for $118.5M
Space Investment Partners recently paid $118.5 million to Kite Realty for Fullerton Metrocenter, a 395,703-square-foot retail center anchored by Sprouts, Petsmart and Target.
The shopping center at 1375 Harbor Blvd. sits on 30 acres with 40 tenants that also include Urban Air Adventure Park.
“Looking ahead, we plan to revamp the center, bringing in new concepts and ensuring it serves the surrounding community as more housing is added,” said Ryan Gallagher, Space IP managing partner and co-founder.
Built in 1988 and updated in 2002, the shopping center will get some immediate improvements including fresh paint, updated signage, new landscaping, and leasing efforts “focused on attracting new food and fitness tenants,” according to the company.
Eastdil Secured represented the seller in the transaction.
Fullerton apartments fetch $4.1 million
A nine-unit apartment property in Fullerton sold June 13 for $4.1 million or $455,555 per unit, according to Marcus & Millichap.
Greg Bassirpou at Marcus & Millichap pointed out the small complex is minutes from Cal State Fullerton and retail centers, making it an attractive option for investors.
Bassirpou did not identify the buyer or sellers.
The property at 3169-3175 Quartz Lane includes one two-bedroom, two-bathroom townhome and eight two-bedroom, one-bathroom units in 9,831 square feet.
Amenities include a landscaped courtyard, patios, enclosed garages and on-site laundry rooms.
Bassirpou said the sellers made “extensive interior and exterior renovations to the property.”
CapRock goes big in Houston
Newport Beach-based CapRock Partners recently acquired a 524,199-square-foot, Class A industrial facility in Houston for undisclosed terms.
The fully leased Kennedy Greens Distribution Center was CapRock’s first buy in the Houston marketplace as it expands across Texas.
Built in 2020, the distribution center sits on 29 acres less than 3 miles from George Bush Intercontinental Airport.
“Houston’s industrial market continues to demonstrate strength, driven by durable demand, land constraints and a diversified economy,” Jon Pharris, co-founder and president of CapRock Partners, said in a statement.
Gantry moves mortgage team to Atrium in Irvine
Fresh off it’s deal to buy Irvine-based Westcap, Gantry has relocated its now larger team to the Atrium office campus in Irvine.
The office property at 19100-19200 Von Karman includes an open air, 10-story lobby connecting two 10-story office towers in 334,828 square feet.
Gantry’s new office space houses the firm’s commercial mortgage loan producers and corporate marketing staff.
Gantry Principal Andy Bratt said the firm’s operations “grew significantly” in 2024 after buying Westcap and its $3.2 billion loan servicing portfolio last December. The shift to a larger space will help integrate Westcap’s loan production staff with Gantry’s team.
Stream Realty Partners represented both sides of the five-year lease for 5,000 square feet.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.