Horizon Apartment Homes in Santa Ana Acquired by Bridge Investment Group

Bridge Investment Group acquired Horizon Apartment Homes in Santa Ana from the Bascom Group for $129.2 million, or $318,000 per unit, and pledged to preserve hundreds of units as affordable housing. The investment firm partners with Ethos Real Estate to restrict a minimum of 50% of the 406 units as affordable housing for households earning below 80% of the area median income.

“In a time of limited public resources, we are proud to be working with Bridge Investment Group to preserve affordable housing,” said Jennifer Keith, Ethos managing partner, in a statement. “This investment helps reduce displacement and keeps existing communities intact while also providing needed upgrades to our aging housing stock.”

Additionally, the new ownership group will offer social and recreational programs for residents through Bridge’s longtime nonprofit partner, Project Access.