{"id":1004120205,"date":"2015-05-27T10:36:36","date_gmt":"2015-05-27T18:36:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=349378"},"modified":"2020-05-21T22:57:54","modified_gmt":"2020-05-22T06:57:54","slug":"seniors-housing-community-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seniors-housing-community-changes-hands\/","title":{"rendered":"Seniors Housing Community Changes Hands"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/IMG_9452_Edited.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-349379\" title=\"IMG_9452_Edited\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/IMG_9452_Edited.jpg\" alt=\"\" width=\"300\" height=\"190\" \/><\/a>A Richmond affordable seniors housing community changed hands this month. Forest Hills Apartments L.P. sold The Arbors to Atlantic Multi Family 9\u2014Arbors, L.L.C. Terms were not disclosed.<\/p>\n<p style=\"text-align: justify;\">Located at 7608 Forest Hill Ave., The Arbors was completed in 1999 and is reserved for senior residents. The three-story property offers 85 one-, two- and three-bedroom units averaging 610 square feet in size. Community amenities include 24-hour staff, chef-prepared meals, weekly housekeeping and more.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/John-Mullen.jpg\"><br \/>\n<\/a><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/John-Mullen.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-349380\" title=\"John Mullen\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/John-Mullen.jpg\" alt=\"\" width=\"300\" height=\"267\" \/><\/a>The Greysteel Co., a real estate investment services firm based in Washington, D.C., arranged the transaction. Greysteel\u2019s Mid-Atlantic multifamily investment sales team represented the seller.<\/p>\n<p style=\"text-align: justify;\">John Mullen, a senior director with Greysteel, noted in a statement that The Arbors is located in a market with a limited supply of senior communities and a growing senior population.<\/p>\n<p style=\"text-align: justify;\">Citing data from NIC MAP Data Research, Mullen added that the Richmond area\u2019s inventory of seniors housing is expected to grow 1.8 percent annually, and absorption is projected to increase 2.4 percent.<\/p>\n<p style=\"text-align: justify;\"><em>Photos courtesy of <\/em><a href=\"https:\/\/www.greysteel.com\" rel=\"nofollow\"><em>The Greysteel Company<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Richmond affordable senior housing community has changed hands this month. Forest Hills Apartments Limited Partnership sold The Arbors to Atlantic Multi Family 9 &ndash; Arbors, LLC. The price of the transaction was not disclosed.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004120205","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Seniors Housing Community Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/seniors-housing-community-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seniors Housing Community Changes Hands\" \/>\n<meta property=\"og:description\" content=\"A Richmond affordable senior housing community has changed hands this month. Forest Hills Apartments Limited Partnership sold The Arbors to Atlantic Multi Family 9 &ndash; Arbors, LLC. 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