Pasadena Assisted Living Homes Sell for $10.9 Million

Three adult-care assisted living facilities on Pasadena’s Garfield Avenue have reportedly been sold as a portfolio for $10.9 million, real estate broker JCH Consulting Group Inc. announced Monday.

The Anaheim Hills broker, which focuses on long-term senior housing facilities, said it has negotiated the sale of the 136-bed Pasadena Residential Care Center, the 40-bed Castle View Retirement Estate and the 60-bed Garfield Care Center. These facilities are located at 1415, 1425 and 1435 Garfield Avenue in Pasadena, respectively.

JCH Consulting said SYTR Real Estate Holdings bought the portfolio out of Chapter 11 bankruptcy from 1415 Garfield LLC, 1425 Garfield LLC and 1435 Garfield LLC.

The owners of the three adult care residential facilities filed for bankruptcy in May 2015 before the United States Bankruptcy Court for the Central District of California.

The oldest of the three facilities, Castle View Retirement Estate, was built in 1940 and occupies more than 7,900 square feet of space.

Pasadena Residential Care Center is the biggest facility, with 136 beds on nearly 27,400 square feet. It was built in 1951.

Garfield Care Center is about 11,100 square feet and has 60 beds. It was built in 1956.

The number of beds on all three of the facilities is above the average of 15 beds for most senior care facilities in California.