WSW Property Ventures Acquires Huntington Breeze Senior Housing From Bascom Group For $35M

The property asset involved in this transaction is a senior housing complex known as Huntington Breeze, located at 16171 Springdale Street in Huntington Beach. The sale price was $35,000,000, and the asset spans a total of 72,691 square feet, which equates to approximately $481 per square foot. This community caters specifically to active seniors aged 55 and over and was built in 1987.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $35,000,000
• Square Footage: 72,691
• Price Per Square Foot: $481
• Buyer: WSW Property Ventures
• Seller: Bascom Group
• Brokers: Dean Zander - Newmark, Joe Leon - Voit Real Estate Services

Dean Zander, Vice Chairman at Newmark, and Joe Leon, along with Nick Ingle from Voit Real Estate Services, represented the seller, Bascom Group. The buyer, WSW Property Ventures, comprises partners Steve Wasserman, Pamela Scott, and George Wu, who have been active in the apartment acquisition space since 2008. Financing for the transaction was overseen by the Newmark Debt and Structured Finance team, led by Vincent Punzi and Lowell Takahashi.