California + Orange County + Apartments | April 13, 2022

Avanath Capital Management has acquired St. Johns Manor in Costa Mesa, CA, its third Orange County seniors housing deal in 2022

Avanath Makes Third Orange County Acquisition of 2022

Avanath Capital Management, LLC has expanded its presence in the Orange County market with its third acquisition in the region this year. The firm acquired St. John’s Manor, a 36-unit affordable seniors housing community in Costa Mesa, for $11.75 million.

This acquisition comes on the heels of Avanath’s acquisition of The Overlook at Anaheim Hills, a 261-unit seniors community in Anaheim and The Grove Senior, an 85-unit seniors community in Garden Grove.

“We entered the Orange County market earlier this year, and plan to continue to be extremely bullish in the region,” says John Williams, president and CIO at Avanath. “Senior housing is an asset class that remains particularly of interest to us as it has been one of the best performing asset types within our portfolio throughout the pandemic.”

Avanath currently owns more than 13,000 units across the U.S., 2,550 units of which are age-restricted, senior apartments.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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