John Huskey Of Meta Housing Acquires Burbank Senior Artists' Colony For $31.5M

The property asset involved in the transaction is a multifamily complex located at 240 East Verdugo Avenue in Burbank. The sale price for this 141-unit development was $31,500,000, translating to a price per unit of $223,404. Built in 2005, the community comprises one- and two-bedroom units, with some designated for low-income seniors, allowing the property to qualify for a 30% tax abatement.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,500,000
• Units: 141
• Price Per Unit: $223,404
• Buyer: John Huskey - Meta Housing
• Broker: Northmarq
• Address: 240 East Verdugo Avenue
• Market: Burbank

The transaction featured John Huskey representing the buyer, Meta Housing, with the involvement of Northmarq as the broker facilitating the deal. This sale represents a significant investment in the senior living sector, catering specifically to the needs of an aging population in the Burbank area.