DANVILLE, CA - Opportunity Housing Group (OHG), a Danville CA-based company creating workforce housing for Californians, today announced the $70 million acquisition of the Waterscape Apartments, a 180-unit multifamily property at 3001 North Texas St, in Fairfield, CA, in Solano County. The apartments, previously rented at market rates, will now be preserved for middle-income workers in northern California.
All of the units at Waterscape will have rents reduced to be affordable to Low to.
Waterscape Apartments has new owner, to convert to workforce housing structure dailyrepublic.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyrepublic.com Daily Mail and Mail on Sunday newspapers.
EL SEGUNDO, CA - Griffin Capital Company, a leading privately-held alternative asset manager, and Legacy Partners, a privately-owned national multifamily development and management firm, announced the sale of MODA at Monrovia Station (“MODA”), a 261-unit, Class A multifamily community located in Monrovia, California.
The property was purchased for $100 million by Opportunity Housing Group as a property administrator for the California Statewide Communities Development Authority (CSCDA). Legacy Partners developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners. Legacy will continue to manage the community following the sale closing.
“This successful disposition confirms our strategy of developing in-fill Class A apartment communities proximate to major employers with easy access to public transit,” said Eric Kaplan, President of Griffin Capital Private Equity. “The property was over 90 percent leased at the time of sale, a