Eagle Partners buys back OC apartments in $133M affordable preservation deal
Eagle Real Estate Partners and Vistria Group joined forces to acquire a workforce housing community in Orange County. The multifamily investment firms purchased the 402-unit Crystal View Apartments at 12091 Bayport Street in Garden Grove for $132.5 million, or approximately $329,600 per unit, Commercial Observer reported. Newmark’s Geoff Boler and Jonathan Merhaut represented Eagle Real Estate in the sale. The transaction preserves affordability at the workforce housing community by extending existing affordability for 20 percent of the units which are designated for households earning up to 50 percent of area median income. The purchase also establishes new long-term affordability restrictions […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Tile Drenching: The Bold Bathroom Tile Trend That Maximizes Space and Adds Luxury
LA REITs Douglas Emmett, Hudson Pacific Properties earnings highlights
Inside a Modern Hamptons Home With Views in Nearly Every Direction
Matteo Thun designs Torre Velasca interiors using "building itself as the starting point"
SABO Project "softens divisions" inside Manhattan apartment
Nithya Raman won. Now what?
This Breezy Los Angeles House Has “a Little Funk to It”
Developer pitches data center at City of Industry golf course
A.J. Khair advancing resi, retail project on Sunset Strip in WeHo
Kim Kardashian’s Beverly Hills Marital Villa Lists for $8.5 Million—Plus 4 More Luxury Homes for Sale
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
26895 Aliso Creek Rd, B-603, Aliso Viejo, California 92656, USA