Eagle Partners, a multifamily investment manager and operator focused on attainable housing, closed on a $162.5-million affordable housing preservation portfolio of The Hendrix Apartments and The Hadley Apartments, located in Escondido. The seller was not disclosed. Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority and Affordable Housing Access.
The portfolio includes two adjacent 55-plus communities totaling 551 one- and two-bedroom residences. Eagle will implement a long-term affordable preservation strategy along with a targeted capital improvement program.
“This transaction represents a meaningful milestone in the continued scaling of our attainable housing platform and speaks to our ability to source institutional quality opportunities on an off-market basis,” said Taylor Friend, managing partner of Eagle Partners. “We are proud to expand our presence in San Diego County and to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship.”
Ontario Finance Minister Peter Bethlenfalvy told the legislature Thursday that the province’s response to economic uncertainty is to “build, and to build together.” But the Fall Economic Statement he delivered forecasts considerably less building than the government expected just six months ago. Ontario now projects 65,100 housing starts in 2027, down from 70,300 in its...
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Five major Canadian banks are financing a 917-unit rental development in Etobicoke, where construction is now underway on a site previously planned for condominiums. CBRE Capital arranged the conventional, uninsured construction financing for EllisDon Developments and Windsor Private Capital’s two-tower project at 80–90 Fieldway Rd., near Kipling station. The LiUNA Pension Fund is also an...
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Peakhill Capital has launched a $750-million construction lending program for rental housing developments across Canada, with $450 million in loans already closed under the new platform this year. The Toronto-based lender announced Thursday that its Everest program, backed by an initial institutional commitment, will provide CMHC-insured construction loans ranging from $4 million to $200 million....
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