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California affordable housing company buys Santa Rosa apartments for middle-income workers
Transactions - OCTOBER 27, 2021

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California affordable housing company buys Santa Rosa apartments for middle-income workers

by Kali Persall

Opportunity Housing Group (OHG), a Danville, Calif.–based company, has acquired two apartment properties in Santa Rosa, Calif., which will be preserved for middle-income workers in northern California.

The properties are Acacia on Santa Rosa Creek Apartments, a 277-unit multifamily property that was acquired for $117.5 million, and Vineyard Gardens Apartments, a 180-unit residential property that was acquired for $65.8 million.

OHG acquired both properties in partnership with the California Statewide Communities Development Authority (CSCDA) using CSCDA’s workforce-housing program. Under this structure, middle-income workers, such as teachers, first responders, civil employees and others, are offered discounted rents at the property that align with their incomes and have capped annual increases.

“These two properties are part of our over $1 billion pipeline of acquisitions in our innovative workforce housing program, providing housing for the essential wor

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