Santa Rosa Property Duo to Serve Middle-Income Workers

Danville-based Opportunity Housing Group (OHG) recently acquired Acacia on Santa Rosa Creek Apartments and Vineyard Gardens Apartments, both in Santa Rosa. The properties will be preserved for middle-income workers under OHG’s workforce housing initiative.

Acacia on Santa Rosa Creek, acquired for $117.5 million, is a 277-unit multifamily property at 4656 Quigg Dr. The one-, two- and three-bedroom apartments, previously rented at market rates, will have rents reduced to be affordable to low- to moderate-income individuals and families. The property was sold by an institutional seller represented by Scott Bales of Newmark along with Nolan Moore and Max Machiorlette of JLL.

Vineyard Gardens Apartments, which was acquired for $65.8 million, is a 180-unit residential property consisting of one-, two- and three-bedroom apartments at 220-240 Burt St. The seller was a joint venture between Angelo Gordon and Glencrest Group represented by Institutional Property Advisors’ Salvatore Saglimbeni, Philip Saglimbeni, Stanford Jones and Alex Tartaglia.