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1/28/26
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Health Wave Partners purchased Clearwater at North Tustin, a Class A, 100-unit seniors housing community in North Tustin, CA. The complex, built in 2021, was sold by Broadview Real Estate Partners.
Clearwater North Tustin consists of two acuity-specific single-story buildings offering assisted living and memory care. Residents have access to a variety of amenities, including a restaurant-style dining, an outdoor amphitheater, music garden, salon and spa, art studio, wellness center, a dog park and four distinct resident courtyards.
The property is positioned on a 6.6-acre site at 11901 Newport Ave, surrounded by a variety of retail and commercial amenities. The primary market area is affluent and densely populated with more than 439,000 residents living within a five-mile radius of the property.
Aaron Rosenzweig and Dan Baker with JLL’s Seniors Housing Capital Markets team procured the buyer and represented the seller in the deal. JLL’s Debt Advisory team arranged acquisition financing on behalf of the buyer through a large national bank.
“We’re seeing robust demand for Class A seniors housing communities in Orange County,” said Rosenzweig. “Barriers to entry are high with Clearwater enduring a 14-year entitlement process. This drove a competitive sales and financing process for the property as future competition will likely be very limited.”
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