Avanath Capital Management has entered the Orange County market with the acquisition of The Grove Senior Apartments, an 85-unit senior housing community in Garden Grove, Calif.
The property was acquired for $19.85 million. Avanath is headquartered in Irvine, Calif., and while the firm has 10,000+ units within its portfolio across the United States, this marks its first acquisition in its hometown market of Orange County.