Eagle Real Estate Partners and The Vistria Group Acquire 402-Unit Orange County Workforce Housing Community

Eagle Real Estate Partners and The Vistria Group have acquired Crystal View Apartments, a 402-unit mixed-income workforce housing community in Garden Grove, California, expanding long-term affordable housing in one of the nation’s most supply-constrained apartment markets.

The acquisition preserves affordability restrictions that were nearing expiration while creating new long-term affordable housing commitments across half of the community. Under the agreement, 20% of the property’s units will remain affordable to households earning up to 50% of the Area Median Income (AMI), while an additional 30% of units will receive new long-term affordability restrictions for households earning up to 80% of AMI. The partnership also plans targeted capital improvements designed to enhance the property and resident experience.

“Crystal View represents the continued scaling of our attainable housing platform and expands our presence into Orange County, one of the most supply-constrained housing markets in the country,” said Taylor Friend, Managing Partner of Eagle Real Estate Partners. “We are proud to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship.”

“Investments like Crystal View demonstrate how strong partnerships can preserve affordable housing in high-opportunity, supply-constrained markets,” said Yusef Freeman, Partner of Real Estate at The Vistria Group. “We are proud to partner with Eagle to expand long-term affordability while delivering lasting value for residents and investors.”

The acquisition marks Eagle’s third affordable housing preservation investment within the past year. Previous transactions include the $107 million acquisition of the 350-unit Hills at Hacienda Heights community in Los Angeles County in November 2025 and the $162.5 million acquisition of the 551-unit Hendrix and Hadley Apartments in Escondido in March 2026, further expanding the firm’s Southern California portfolio.

Located in Garden Grove, Crystal View Apartments is a 402-unit garden-style community originally built in 1968 and renovated in 2012. The property offers 555 parking spaces, on-site resident services, and amenities including a resort-style pool, fitness center, and sports complex, while providing workforce housing near major employment centers and retail destinations throughout Orange County.

“This acquisition reflects our conviction that preserving and expanding affordability in well-located communities can deliver durable, long-term returns for our partners and a meaningful improvement in quality of life for residents,” said Shahny Lutfeali, Managing Partner of Eagle Real Estate Partners. “In addition, we want to thank Geoff Boler, Jonathan Merhaut, and the Newmark debt and sales teams for their collaboration throughout the sales process.”

Los Angeles-based Eagle Real Estate Partners specializes in multifamily investments across the Western United States, focusing on affordable housing preservation, workforce housing, and value-add multifamily strategies. The Vistria Group, which manages approximately $17 billion in assets under management, invests across sectors including housing, healthcare, financial services, and education with a focus on generating both financial returns and measurable social impact.

For more information, visit https://eaglerepartners.com.