R. Alan Butler Of Erickson Senior Living Acquires 17.7 Acres In Irvine For $159.3M

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.