Opportunity Housing Group buys Pleasant Hill, Calif., apartment complex for $304m
Opportunity Housing Group (OHG), a Danville, Calif.–based company creating workforce housing for Californians, has completed the purchase of the 484-unit Wood Creek Apartments at 637 Stonebridge Way in Pleasant Hill, Calif., in partnership with the California Statewide Communities Development Authority (CSCDA).
The seller was Equity Residential.
One-third of Wood Creek’s apartments will be rented to individuals and families earning no greater than 80 percent of area median income (AMI), one-third of units will be rented to individuals and families earning no greater than 100 percent of AMI, and one-third of units will be rented to individuals and families earning no greater than 120 percent of AMI.
Wood Creek’s amenities include three pools and spas, a fitness center, private garages that provide one individual garage space per unit, a playground, and a barbecue and picnic area. Individual apartment finishes vary, but generally include washers and dryers,