Five Point affiliate sells $159M of Great Park land in Irvine to Erickson Senior Living
A Five Point Holdings affiliate offloaded land within Irvine’s Great Park Neighborhoods for nine figures. Great Park Venture, an entity tied to Irvine-based Five Point, sold 17.7 acres of Great Park land to Erickson Senior Living for $159.3 million, the Orange County Business Journal reported. The deal works out to $9 million per acre. Erickson, Maryland-based senior housing provider, plans to build a 1.8-million-square-foot retirement community for older adults on the site spanning 980 independent living units and up to 194 assisted living and memory care beds across six buildings. The development would rise on a vacant lot between Marine […]This article originally appeared on The Real Deal. Click here to read the full story.
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