Eagle Partners announced the closing of a $107-million affordable housing preservation acquisition, The Hills at Hacienda Heights, a 350-unit apartment community in the San Gabriel Valley of Los Angeles. Eagle Partners’ acquisition will create long-term affordability for the community and will enhance the quality of the asset through targeted capital reinvestment. Eagle Partners, a vertically integrated multifamily real estate investor and operator, partnered with Red Stone Equity Partners, JPMorgan Chase, the California Housing Finance Agency (CalHFA) and Affordable Housing Access to execute the market-to-affordable conversion.
Eagle Partners will restrict up to 350 units to households earning up to 80 percent of Area Medium Income (AMI) with an emphasis on minimizing tenant displacement.
“There is substantial need to increase access to and maintain the quality of attainable housing across Southern California and beyond,” said Taylor Friend, a managing partner o
