Ventas Acquires Oxnard Senior Housing Asset for $56.5M
Ventas Acquires Oxnard Senior Housing Asset for $56.5M
Jones Lang LaSalle Incorporated has facilitated the sale of a Southern California senior living community to healthcare real estate investment trust Ventas. The 136-unit property, known as Clearwater at Riverpark, is located in Oxnard within the Riverpark master-planned community. The transaction, which closed on July 15, was valued at $56.54 million, equating to roughly $415,700 per unit.
Constructed in 2018, the asset spans 153,297 square feet on a 3.8-acre site at 750 Clyde River Place. The facility features independent living residences with an average size of 809 square feet. Amenities offered to residents include several dining options, a swimming pool, a fitness center, a theater, and a salon and spa. The community is positioned next to The Collection at Riverpark, a regional retail and entertainment complex.
JLL’s Capital Markets team represented the seller, Chicago-based Harrison Street Asset Management, in the deal. Senior managing directors Aaron Rosenzweig and Dan Baker led the brokerage efforts. The sale highlights ongoing institutional interest in high-quality senior housing assets located in markets with constrained new development opportunities.
Operational management of the community is handled by Clearwater Living. For JLL, the transaction underscores continued activity in the real estate services sector; the firm’s shares were trading up 2.92% today. Ventas, a component of the S&P 500, continues to expand its portfolio focused on senior housing and healthcare properties.
What to watch
- Future asset disposition strategies from Harrison Street, which manages approximately $109 billion in real estate and credit strategies.
- Ventas’s upcoming quarterly filings to see how the Oxnard acquisition impacts its senior housing portfolio metrics.
- Supply and demand indicators for senior housing in Ventura County and surrounding Southern California markets.
Source: original release