Updated Jul 29, 2026
R. Alan Butler Of Erickson Senior Living Acquires 17.7 Acres In Irvine For $159.3M
Marine Way
$159,300,000
Building Size
—
Asset Type
Land
Closing
Jul 28, 2026
About this deal
AI
17.7 acres of land located on Marine Way in Irvine, CA has been sold for $159,300,000. This translates to approximately $9 million per acre. The sale is part of the Great Park Neighborhoods in Irvine and is intended for a planned senior-living retirement community.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $159,300,000
- Address: Marine Way
- Market: Irvine, CA
- Acres: 17.7
- Buyer: R. Alan Butler - Erickson Senior Living
- Seller: Dan Hedigan - Five Point Holdings
R. Alan Butler represents Erickson Senior Living in this acquisition, while Dan Hedigan represents Five Point Holdings. This transaction marks the first senior-living development within a Five Point California master plan, indicating a strong demand for premium land in Orange County.
On the Map
$159,300,000
Land
View full map
Players
Irvine Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Deal FAQ
Browse Irvine land sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93