February 10, 2017
South Carolina-based Greystar acquired two senior housing assets in San Marcos, CA from San Diego-based R&V Management for $44.3 million. The resort-style communities are Casa Vallecitos and Hacienda Vallecitos.
Casa Vallecitos, a 151-unit property built in 1992, offers one- and two-bedroom floor plans. Hacienda Vallecitos, a 104-unit property built in 2001, offers studios, as well as one- and two-bedroom units.
Berkadia’s Ed Rosen, John Chu, Kyle Pinkalla and Erin Dammen completed the portfolio transaction on behalf of the seller.
Berkadia’s Rosen said, “Both of these properties were enticing investments, due to the opportunity for value enhancements. We expect that the new owner will take full advantage and see a significant return over the next couple of years.”
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