Eagle Real Estate Partners and The Vistria Group have acquired the Crystal View Apartments in Garden Grove, California, for $132.5 million. The transaction includes 402 residential units designed as affordable housing. The complex's address is 12091 Bayport Street.
This acquisition extends existing rent restrictions that were originally due to expire. These regulations stipulate that 20 percent of the units are reserved for households earning up to 50 percent of the area's median income. Furthermore, a new long-term commitment will be introduced, earmarking an additional 30 percent of the units for households whose income is up to 80 percent of the median income.
The partners also plan extensive capital investments in the almost 60-year-old residential complex. Taylor Friend, Managing Partner at Eagle Real Estate, commented on the acquisition: "Crystal View represents the continued scaling of our affordable housing platform and expands our presence in Orange County, one of the most undersupplied housing markets in the country."
Property Details and Brokerage
The Crystal View Apartments were built in 1968 and were last renovated in 2012. The complex offers 555 parking spaces and a range of amenities such as a resort-style pool, a fitness centre, and a sports complex.
The transaction was brokered by Geoff Boler and Jonathan Merhaut of Newmark, who assisted L.A.-based Eagle Real Estate with this purchase. This acquisition is Eagle Real Estate's third affordable housing preservation acquisition within the last year. Previously, in November 2025, the company purchased the 350-unit Hills at Hacienda Heights in Los Angeles County for $107 million, and in March, acquired the 551-unit Hendrix and Hadley Apartments in Escondido for $162.5 million.
Investment Strategy of The Vistria Group
The Vistria Group, headquartered in Chicago, manages assets of approximately $17 billion. The company invests in various sectors, including housing, healthcare, education, and financial services. This acquisition underscores both firms' commitment to providing and securing affordable housing in strategically important markets.
