Hudson Valley Property Group Expands California Presence with Elk Grove Acquisition
Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit, newly constructed affordable multifamily rental community located at 10149 Bruceville Rd. in Elk Grove, for $83.6 million including the assumption of debt. The acquisition expands HVPG’s growing California portfolio.
Completed in 2025, Mosa is a 14-building, garden-style family community. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement covering 100% of units, with HVPG acquiring the general partner interests in all three.
“Mosa represents a meaningful expansion of our West Coast portfolio and preservation strategy, extending our work to safeguarding affordability at newly delivered communities in addition to repositioning legacy properties,” said Jason Bordainick, HVPG co-founder and managing partner.
The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners and public finance support facilitated by the California Municipal Finance Authority and the City of Elk Grove.
Hear from top executives from BGO, Blackstone, Cushman & Wakefield, Kennedy Wilson and CBRE as they break down strategy, capital flows, and where the market is headed on May 28 at Connect LA. Join the conversation shaping LA CRE—register now: www.connectLA26.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout