IRVINE, Calif., May 20, 2020 /PRNewswire/ -- Irvine-based MBK Senior Living (MSL) announces the close of escrow on Kirkwood Orange, a senior living community located in Orange, California. This acquisition expands the company's portfolio to 33 owned and managed communities located throughout the Western United States. The purchase price was not disclosed. Cushman & Wakefield Senior Housing Capital Markets arranged the sale.
According to Jeff Fischer, president MBK Senior Living, the acquisition of Kirkwood Orange is part of the company's growth strategy and is a wonderful complement to MBK Senior Living's portfolio of communities located throughout the Western United States.
Kirkwood Orange is comprised of 48 assisted living and memory care units. Originally built in 1999, the community completed $1.1 million in capital improvements in 2019 including renovations to all common areas. Conveniently located on Taft Avenue, just off of Highway 55, the community is within close proximity to prime shopping and recreational venues, medical centers, and hospitals as well as a short drive from the ARTIC transit center and John Wayne airport.
"Kirkwood Orange is a charming community located in a thriving area where there is a great demand for safe, high-quality senior living with engaging programing and compassionate care," said Fischer. "As the new owner and manager of Kirkwood Orange, we are pleased to provide area seniors and their families with our exceptional signature programs and services."
"Acquiring a new community during a pandemic presents its own unique challenges, however, MBK Senior Living is focused on providing our new residents and families with the highest level of care. We will exercise the utmost caution and implement all necessary safeguards as we take the reins at Kirkwood Orange," added Fischer.
Ranked among the Top 50 "Best Workplaces in Aging Services" by Fortune magazine, MBK Senior Living (MSL) owns, operates, and develops Independent Living, Assisted Living, and Memory Care services senior living communities throughout the Western United States. Based in Irvine, CA, MSL is a subsidiary of MBK Real Estate LLC which is supported by the vast financial strength and global resources of its parent company, Mitsui & Co., Ltd. For more information, please visit the company's website at mbkseniorliving.com or on Twitter and Facebook.
Press release distributed by PRLog
SOURCE MBK Senior Living