Security Properties & Hearthstone Housing Foundation Acquire Senior Housing In San Jose For $41M

Security Properties and Hearthstone Housing Foundation, represented by Ed McGovern, have acquired a senior housing asset in San Jose. The property, located at 2605 La Hacienda Court and 2600 Nuestra Castillo Court, was sold by ROEM Development and the Foundation for Affordable Housing at a price of $41,000,000. With a total of 118 units, the purchase equates to an average price per unit of $347,458.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $41,000,000
• Address: 2605 La Hacienda Court & 2600 Nuestra Castillo Court
• Market: San Jose
• Buyer: Security Properties - Ed McGovern & Hearthstone Housing Foundation
• Seller: ROEM Development & Foundation for Affordable Housing
• Units: 118
• Price per Unit (PPU): $347,458

Ed McGovern, representing Security Properties and Hearthstone Housing Foundation, played a key role in the transaction. This acquisition marks a significant investment in the senior housing market in San Jose.