Acquisition of The Residences at Westgate

United States

Deal value: $61,000,000

Acquisition of a 200-unit, affordable multifamily property in Pasadena, CA, with a focus on long-term affordability preservation.

The acquisition targets a well-located, 200-unit affordable multifamily property in Pasadena, CA, aiming to preserve long-term affordability amid rising housing costs. The core motivation is to secure stable, inflation-protected cash flows while addressing a critical societal need for affordable housing in a high-demand urban market. The timing reflects both heightened institutional interest in resilient, mission-driven real estate and policy momentum supporting affordable housing preservation.