Eagle Partners has completed the acquisition of an affordable housing preservation portfolio in Escondido, purchasing The Hendrix Apartments and The Hadley Apartments for $162.5 million. The multifamily investment manager and operator, which focuses on attainable housing, acquired the seniors portfolio from an undisclosed seller. The transaction centers on two adjacent age-restricted communities serving residents 55 and older.
The portfolio comprises a combined 551 residences across one- and two-bedroom floor plans. Both properties are positioned as affordable communities, and Eagle Partners has stated that it will pursue a long-term strategy aimed at preserving affordability for residents. In addition to the preservation focus, the firm plans to execute a targeted capital improvement program at the properties, though specific project scopes and budgets were not disclosed.
To complete the transaction, Eagle Partners assembled a group of institutional and public-sector aligned collaborators. The firm partnered with Red Stone Equity Partners, JPMorgan Chase, the California Statewide Communities Development Authority and Affordable Housing Access in connection with the acquisition. The structure of each party’s involvement, including capital contributions or specific roles, was not detailed in the announcement.
Leadership at Eagle Partners framed the deal as an important step in the growth of its attainable housing platform. Managing partner Taylor Friend noted that the acquisition demonstrates the firm’s ability to source institutional-quality opportunities on an off-market basis. Friend also emphasized Eagle Partners’ intention to expand its presence in San Diego County while working with counterparties that share a focus on long-term affordability, disciplined execution and community stewardship.
The Escondido seniors portfolio adds scale to Eagle Partners’ holdings in the age-restricted and affordable multifamily segment. With 551 units across the two communities, the transaction represents a sizable commitment of capital to preserving affordability for older residents in the area. While further details on timing, financing structure and renovation plans were not provided, the acquisition underscores continued investor interest in stabilized, income-restricted housing product supported by mission-driven and institutional partners.
