Investor dumps senior housing community

California asset dates back to 1980s

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Marcus & Millichap arranged the sale of the Seasons Senior Apartments at Lakewood in Lakewood, Calif. The value of the transaction was $18.6 million. The 103,170-square-foot apartment building is located at 3200 East South St. The apartment building was constructed in 1989 and consists of 201 units situated on a 4.8-acre lot. A California-based investment group purchased the asset from a locally based private investor. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....