RIVERSIDE, Calif. — CBRE has arranged the sale of Orangeville Senior Living and Madison Villa Arms, two active adult communities in Riverside, approximately 50 miles east of Los Angeles.
Orangeville was built in 2010 and features 23 units. The price was $4.4 million. Madison Villa Arms was built in 2017 and sold for $2.5 million. CBRE’s Blake Torgerson and Eric Chen represented the seller, the original developer of both properties, in the transactions.
Two separate private buyers acquired each property. In the Orangeville transaction, CBRE also arranged a five-year loan for the buyer with a 4 percent fixed rate. The Madison Villa Arms deal was part of an all-cash 1031 exchange deal.