Bridge Investment Group's acquisition of the 406-unit Horizon Apartment Homes in Santa Ana for $129.2 million highlights its commitment to preserving affordable housing amidst declining multifamily sales in Orange County.
The partnership with Ethos Real Estate ensures that at least half of the apartments will remain affordable for households earning below 80 percent of the area median income, a crucial step in addressing local housing needs.
This transaction is notable as it represents the largest multifamily deal in Orange County this year amidst a significant drop in multifamily property sales, which plunged 90 percent from summer to fall.
Horizon Apartment Homes, built in 1972 and renovated in 2018, will not only provide affordable housing but also social and recreational programs in collaboration with Project Access, addressing community welfare.
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