The property at 250 Budd Avenue in Campbell, a Senior Housing asset spanning 1.7 acres, was sold for $21,000,000 on 05/22/2024. The transaction involved the acquisition of Corinthian House, an affordable seniors housing property with 102 units, at a price of $205,882 per unit.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $21,000,000
• Address: 250 Budd Avenue
• Market: Campbell
• Units: 102
• PPU: $205,882
• Buyer: Seth Gellis - Community Preservation Partners (CPP)

Community Preservation Partners (CPP) led by Seth Gellis completed the acquisition of Corinthian House with plans for substantial renovations. The project includes upgrades to individual units and common areas, such as a new fitness center, set to be finished by December. Additionally, the team aims to maintain the property's Housing Assistance Payment (HAP) Section 8 contract for an additional 20 years.