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12/23/25
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Spira Equity Partners has obtained $28.5 mil in permanent tax-exempt acquisition and rehabilitation financing along with a low-income tax credit investment in the amount of $15.25 mil on Dorado Senior Apartments, a 150-unit, mid-rise affordable housing community in Buena Park. Spira purchased the property roughly half a year earlier in a $34 mil transaction.
Located at 8622 Stanton Ave, Dorado Senior Apartments is conveniently situated minutes from major retailers, including ALDI and Walmart. Numerous restaurants, healthcare facilities, and major transportation routes are also nearby.
The senior LIHTC property offers one- and two-bedroom apartments with a variety of amenities, including a clubhouse with a kitchen, arts and crafts room, fitness center, computer center, courtyard pool, and more. Dorado Senior Apartments was initially built and placed in service in 2006 under the Section 42 LIHTC program. All units must be rented to income-qualifying residents earning no more than 30%, 45%, 50%, and 60% of the Area Median Income (AMI) limits, as provided by the California Tax Credit Allocation Committee.
Justin Sigmon with Berkadia Tax Credit Solutions arranged the new low-income tax credit investment of $15.25 mil. Brandon Grisham of Berkadia Affordable Housing represented the seller in the acquisition. Tim Leonhard, also of Berkadia Affordable Housing, arranged the original $20 mil bridge acquisition loan at the time of purchase.
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