Walker & Dunlop has announced the sale of two California communities, both located in the greater Los Angeles area. The deal included Westminster Terrace, a 76-unit assisted living community built in 2000 in Westminster, and Del Obispo Terrace, a 94-unit assisted living community built in 1984 in the town of San Juan Capistrano. Dallas-based healthcare real estate group, MedCore Partners, sold both properties.
Before the sale, MedCore invested a total of $4.4 million in upgrades and renovations across the two campuses. With those renovations finished, they sold Westminster Terrace to Oxford Health Group, and then sold Del Obispo Terrace to AEW a month later. The purchase prices were not disclosed. Tony Cassie & Sam Thompson of Walker & Dunlop handled this transaction. Oakmont Senior Living will operate Del Obispo Terrace, and Oxford Health Group will operate its new community in Westminster.
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