Eagle Partners, a multifamily investment manager and operator focused on attainable housing, closed on a $162.5-million affordable housing preservation portfolio of The Hendrix Apartments and The Hadley Apartments, located in Escondido. The seller was not disclosed. Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority and Affordable Housing Access.
The portfolio includes two adjacent 55-plus communities totaling 551 one- and two-bedroom residences. Eagle will implement a long-term affordable preservation strategy along with a targeted capital improvement program.
“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.”
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