Eagle Partners, a multifamily investment manager and operator focused on attainable housing, announced the closing of a $162.5-million affordable housing preservation portfolio acquisition of The Hendrix Apartments and The Hadley Apartments in Escondido, California.
The portfolio consists of two adjacent communities totaling 551-units of one- and two- bedroom residences serving the senior demographic (55+) in North San Diego County. Eagle Partners plans to launch a long-term affordable preservation strategy for the properties while executing a targeted capital improvement program designed to enhance the resident experience.
Eagle Partners teamed with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority, and Affordable Housing Access to execute on the acquisition, which was an off-market transaction.
“This transaction represents a meaningful milestone in the continued scaling of our attainable housing platform and speaks to our ability to source institutional quality opportunities on an off-market basis” said Taylor Friend, managing partner of Eagle Partners. “We are proud to expand our presence in San Diego County and to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship.”
