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BRIDGE Housing Acquires Daly City Complex from AvalonBay

BRIDGE Housing said Thursday it purchased the 195-unit Eaves Daly City complex from AvalonBay Communities and will preserve at least half the units as affordable. The company reportedly paid $65 million for the Daly City property, its third mixed-income acquisition in San Mateo County. 

“The housing crisis demands urgent action, and this latest deal demonstrates our commitment to ensuring predictable, affordable rents and quality housing for working families in one of the country’s most expensive markets,” said Ken Lombard, BRIDGE president and CEO. 

Morgan Stanley and National Equity Fund (NEF) provided financing as part of a partnership forged last year, in which BRIDGE secured a $250-million funding arrangement to facilitate expansion into multifamily acquisitions. The financing from Morgan Stanley and NEF also enabled BRIDGE’s acquisition last year of two adjacent properties – Terra Linda Manor and Northview – with 125 workforce housing units in the Marin County community of San Rafael. 


Inside The Story

BRIDGE Housing

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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