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California  + Orange County  + Senior Housing  | 
Standard Communities Acquires an Affordable Senior Housing Portfolio

Standard Communities Acquires Affordable Senior Housing Portfolio

Affordable housing investor and developer, Standard Communities, has acquired a trio of senior mixed-income communities totaling 559 rental units in California. The total capitalization of the portfolio is $195 million, including more than $19 million in renovations.

The three properties are: The 196-unit Heritage Village Anaheim, CA, the 196-unit Heritage Park Escondido, CA and the 167-unit Heritage Park Livermore, CA. Standard plans on providing upgrades to the communities’ plumbing, HVAC, electrical, fire safety and security, as well as unit improvements and exterior repairs including new paint. The common areas will also be renovated. 

“We believe housing is a pathway to human prosperity. We’re preserving and expanding affordable housing in some of the areas that need it most in California,” said Standard Communities’ Jeffrey Jaeger. “Seniors are the fastest-growing population in the state, and we are proud to be a part of the solution to meet their increasing demand for quality affordable rental housing.”

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Standard CommunitiesJeffrey Jaeger

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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