Eagle Partners has closed on a $107-million affordable housing preservation acquisition, The Hills at Hacienda Heights, a 1970-vintage, 350-unit apartment community in the San Gabriel Valley. A vertically integrated multifamily real estate investor and operator, Eagle Partners partnered with Red Stone Equity Partners, JPMorgan Chase, California Housing Finance Agency (CalHFA) and Affordable Housing Access to execute upon the market-to-affordable conversion.  

The Hills at Hacienda Heights will be the second – and largest – CalHFA affordable housing preservation equity transaction in California, according to Eagle Partners. JPMorgan Chase provided the majority of the capital for the investment.

“This acquisition underscores what is possible when sophisticated capital aligns with a clear purpose, and that positive impact can be married with compelling financial returns to better the communities that we operate within,” said Shahny Lutfeali, a managing partner of Eagle Partners. “In addition, we want to thank Kevin Green and the Institutional Property Advisors team for their collaboration throughout the sales process.”