Marcus & Millichap has completed the sale of Redwood Meadows, a senior multifamily community in Willits, for $10.8 million. The 101-unit active adult property is located at 1475 Baechtel Rd. and traded at a price of $106,931 per unit, underscoring ongoing investor interest in stabilized seniors housing assets in Northern California.
According to Marcus & Millichap, investor demand remains focused on senior housing communities that pair steady occupancy with long-term growth prospects across Northern California. Within that context, Redwood Meadows was marketed as an income-producing community with both current cash flow and identifiable upside, supported by an existing resident base and the ability to expand the property.
Isaak Heitzeberg, managing director investments in Marcus & Millichap’s Sacramento office, represented the seller, TCC Properties, in the transaction. Heitzeberg, together with Andres Guerra, an investment specialist also based in the firm’s Sacramento office, sourced the buyer, Echelon Communities. The buyer acquired the asset as part of an effort to grow its portfolio in the broader region.
A key feature of the transaction was the presence of an assumable loan, which formed part of the appeal for the purchaser. By taking on the existing financing rather than arranging new debt, the buyer was able to incorporate the in-place capital structure into its underwriting for the acquisition, aligning with a strategy focused on long-term ownership of the community.
Redwood Meadows was originally constructed in 1989 and sits on a 7.18-acre parcel. In addition to the existing 101 units, the site includes land with initial city approval for up to 15 additional units. This entitlement framework provides the new owner with a defined expansion path that could be pursued in the future, creating optionality to increase the community’s scale as market conditions and operational strategy warrant.
