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A partnership between Opportunity Housing Group and California Statewide Communities Development Authority has acquired two apartment properties in Santa Rosa, California, for $183 million. The two communities serve a middle-income renter and were acquired under OHG’s workforce housing initiative.

The partnership acquired Acacia on Santa Rosa Creek Apartments for $117.5 million from an institutional owner. Located at 4656 Quigg Dr. in Santa Rosa, the property has 277 units in a mix of one-, two- and three-bedroom floor plans with a full suite of amenities, including a fitness center, swimming pool, clubhouse, business center and parking. The units were previously rented at market rate. However, the partnership plans to reduce rents for low and moderate income residents, which make up a majority of the current occupancy. As a result, most tenants will qualify for a $255 per month rent decrease.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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