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8/04/25
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Huntington Breeze, a 114-unit, 55+ active adult multifamily property in Huntington Beach, was purchased for $35 mil, or $307k/unit, by WSW Property Ventures, a new venture headed by Steve Wasserman, Pamela Scott and George Wu. The seller was The Bascom Group.
The property is located at 16171 Springdale St, in a popular SoCal coastal enclave. It features a diverse unit mix of studio, one- and two-bedroom apartment homes, complemented by an extensive array of amenities tailored to the dynamic lifestyle of 55+ renters.
Huntington Breeze is viewed as a substantial value-add opportunity for the buyer. The new owner plans to unlock additional value through strategic initiatives, including the potential development of accessory dwelling units (ADUs), capturing below-market rents and implementing a comprehensive renovation program.
Dean Zander with Newmark, along with Joe Leon and Nick Ingle of Voit Commercial Real Estate, represented the seller in the transaction. Vincent Punzi and Lowell Takahashi, also with Newmark, facilitated acquisition financing on behalf of the buyer.
“Orange County is currently experiencing a significant housing shortage – this is especially true for 55+ apartments,” said Zander. “The active seniors housing supply pipeline in the County is projected to add less than 200 new apartments to the marketplace.”
Huntington Beach offers the lifestyle appeal and prestige of one of Southern California’s most iconic coastal cities. The central Orange County city is home to numerous renowned shopping, dining and entertainment destinations, drawing visitors and tourists from across the region and the country. The area’s growing appeal is underscored by a projected 8% increase in residents age 55 and older over the next five years, further intensifying demand for premium senior living options like Huntington Breeze, according to Newmark Research.
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