Alta Manor seniors community in Roseville, Calif., has been sold to DiNapoli Capital Partners (Walnut Creek, Calif.), a privately held real estate investment firm, for $16.5 million. Greystone, a real estate lending, investment, and advisory company, closed the sale from an independent owner.
The community was built in 2008 and comprises 60 assisted living units and 26 memory care/dementia units. Community amenities include landscaped gardens and courtyards, a scenic nature trail, library, lounge, private banquet room, and beauty salon.
The owner plans to reposition the property within the market, change the product mix, and renovate units, common area, and signage.
The community, located northeast of Sacramento, expanded from 70 to 86 units in 2008 and is more than 70 percent occupied.
