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
Corona Del Mar strip center trades hands as retail market sees price growth
Mark Zuckerberg Just Bought a 16,000-Square-Foot Castle in Ireland
Malibu mansion listed for $48M after Kevin Garnett’s previous woes
Top permits: Developer bringing almost 400 apartments to Westchester
SB 79, resi production bring sparks to Bass-Raman mayoral debate
OC’S Bill Lyon, son of late developer Gen. William Lyon, backs Steve Hilton
Cabin Season Is Coming—and Here’s a Handmade Oregon Dream Home for $899K
Everything We Know About Meghan Markle and Prince Harry’s Reported Move Back to Britain
Diane Keaton’s “House That Pinterest Built” Just Sold for $18 Million
How to Make a Small Bathroom Feel Bigger, According to Interior Designers
"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