Horizon Apartment Homes in Santa Ana Acquired by Bridge Investment Group
Bridge Investment Group acquired Horizon Apartment Homes in Santa Ana from the Bascom Group for $129.2 million, or $318,000 per unit, and pledged to preserve hundreds of units as affordable housing. The investment firm partners with Ethos Real Estate to restrict a minimum of 50% of the 406 units as affordable housing for households earning below 80% of the area median income.
“In a time of limited public resources, we are proud to be working with Bridge Investment Group to preserve affordable housing,†said Jennifer Keith, Ethos managing partner, in a statement. “This investment helps reduce displacement and keeps existing communities intact while also providing needed upgrades to our aging housing stock.â€
Additionally, the new ownership group will offer social and recreational programs for residents through Bridge’s longtime nonprofit partner, Project Access.
