Affordable developer teams up to buy Torrance senior housing complex

Affordable housing developer Community Preservation Parkers and an investment firm acquired a 18o-unit senior housing apartment complex in Torrance. The joint venture will pour millions into renovations, and long-term plans will include converting the subsidized development to market-rate. Community Preservation Partners and Jonathan Rose Companies paid $74 million for the Golden West Tower Apartments, and […]

Community Preservation Partners to Lead $52.5M Pennsylvania Senior Housing Rehabilitation

IRVINE, Calif. (Jan. 28, 2020) – In its first affordable housing venture in Pennsylvania, Community Preservation Partners (CPP) has partnered with Presbyterian SeniorCare Network to take on a $52.5 million rehabilitation of a senior housing portfolio, which includes homes in Butler, Greene and Washington counties. The Presbyterian portfolio encompasses 278 units built between 1983 and […]

Presbyterian SeniorCare Network to launch extensive renovations at five sites

Several of the region’s most robust senior living communities will be getting a facelift, thanks to a partnership between Presbyterian SeniorCare Network and Community Preservation Partners (CPP). The $52.5 million rehabilitation will revitalize homes at five SeniorCare sites, including the Bellmead Apartments and Heritage House of Houston in Washington County, Park Manor and Sunbury Fields […]

Community Preservation Partners Hits $2B in Investments

Community Preservation Partners has invested $2 billion in affordable housing communities. The significant milestone comes after two years of rapid expansion in which the company built a portfolio of 8,000 low-income housing units. As an example of the growth, the company invested its first billion over 13 years, since its founding in 2004, and invested […]

JV Begins Renovations at 180-Unit Senior Housing Complex in LA County

In a $103 million joint venture project, Community Preservation Partners (CPP) and Jonathan Rose Companies acquired a senior housing complex in Los Angeles County and will begin renovations this week. The JV on February 6 acquired the 180-unit Golden West Tower Apartments in Torrance for $73.25 million. The complex at 3510 Maricopa Street, near the […]

West Covina apartments bought for $52 million will remain affordable

An Irvine-based company has acquired a 158-unit affordable housing complex in West Covina with plans to renovate the property and keep all units below market rent for the  next 55 years.Community Preservation Partners (CPP) bought Cameron Park Apartments at 929 W. Cameron Ave. from Steadfast Cos. for $52 million, which includes $10 million for upgrades. […]

Community Preservation Partners Acquires 158-Unit Southern California Property for $52M

IRVINE, Calif. (Dec. 19, 2019) – In a deal that will vastly improve living conditions for hundreds of residents of Cameron Park Apartments in West Covina, Calif., Community Preservation Partners (CPP) has purchased the multifamily complex for $52 million. The acquisition deal includes nearly $10 million in renovations, plus measures to keep all 158 units […]

Community Preservation Partners Reaches $2B in Total Affordable Housing Investments

IRVINE, Calif. (Jan. 13, 2020) – Community Preservation Partners (CPP) has invested more than $2 billion into neighborhoods across the nation to keep housing costs affordable for thousands of seniors and families, allowing them to remain in their homes. The milestone was calculated by totaling the company’s affordable housing acquisition and rehabilitation costs since its […]