Eagle Partners Acquires 551-Unit Off-Market Portfolio of Age-Restricted (55+) Apartments for $162.5 Million

SAN DIEGO, March 11, 2026 /PRNewswire/ -- Eagle Partners, a vertically integrated multifamily investment manager and operator focused on attainable housing, today announced the closing of a $162.5-million affordable housing preservation portfolio acquisition of The Hendrix Apartments and The Hadley Apartments ("the Portfolio") located in Escondido, California.

The Portfolio consists of two adjacent communities totaling 551-units of one- and two- bedroom residences serving the senior demographic (55+) in North San Diego County. Through this acquisition, Eagle will implement a long-term affordable preservation strategy while executing a targeted capital improvement program designed to enhance the resident experience.

Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority (CSCDA), and Affordable Housing Access to execute on the transaction.  

"This transaction represents a meaningful milestone in the continued scaling of our attainable housing platform and speaks to our ability to source institutional quality opportunities on an off-market basis" said Taylor Friend, Managing Partner of Eagle Partners. "We are proud to expand our presence in San Diego County and to work alongside best-in-class partners who share our commitment to long-term affordability, disciplined execution, and community stewardship."

In November 2025, Eagle, Red Stone Equity Partners, and JPMorgan Chase acquired the 350-unit Hills at Hacienda Heights in Los Angeles County for $107 million. The Escondido acquisition represents Eagle's second preservation transaction and further establishes the firm's footprint in Southern California.

Red Stone Equity Partners, a leading real estate investment firm specializing in affordable housing, partnered with JPMorgan Chase to execute the transaction. As a market leader in affordable housing and long-standing investment partner of Red Stone, JPMorgan Chase provided the majority of the capital for the investment. The investment is a part of Red Stone's Preservation Equity platform, which utilizes private market solutions to acquire and preserve existing affordable rental housing throughout the country.

"We are proud to continue expanding our reach by delivering creative financing solutions that help address the affordable housing crisis nationwide. Our investment in The Hendrix and Hadley Apartments exemplifies the deployment of much-needed capital into aging housing stock, preserving high-quality homes for senior residents.  We look forward to the positive and lasting impact this investment will have on the Escondido community in the years ahead," said Brian Fishback, Director of Alternative Investments at Red Stone Equity Partners.

The Hendrix and Hadley Apartments are situated in a supply-constrained submarket of North San Diego County with strong access to retail, healthcare, and community services. Community amenities include resort-style swimming pools, fitness centers, landscaped common areas, a fenced dog park, and covered parking.

"Senior housing represents one of the most meaningful and durable segments of the multifamily market," said Shahny Lutfeali, Managing Partner of Eagle Partners. "This acquisition reflects our conviction that the preservation of well-located communities – when paired with thoughtful capital investment – can deliver both stable long-term returns and a genuine improvement in quality of life for residents."

For more information about Eagle Partners, visit: https://www.eaglerepartners.com/.

About Eagle Partners

Eagle Partners is dedicated to delivering investment solutions that prioritize alignment and partnership with our stakeholders. By leveraging our institutional expertise, local relationships, and differentiated operating capabilities, we are committed to unlock opportunities that drive long-term value in the multifamily real estate market. Our core values — vision, strength, integrity, and a steadfast commitment to creating better communities— guide our decisions in all aspects of our business.

Eagle Partners is affiliated with Eagle Real Estate Investment Group, which collectively owns and manages over 1,900 affordable senior, family and affordable housing units with a 25-year operating track record across Southern California. 

For more information about Eagle Partners, please visit eaglerepartners.com.

SOURCE Eagle Partners