LOS ANGELES, CA – Eagle Partners announced the closing of a $107-million affordable housing preservation acquisition, The Hills at Hacienda Heights, a 350-unit apartment community in the San Gabriel Valley of Los Angeles. Eagle Partners’ acquisition will make long-term affordability for the community and will enhance the quality of the asset through targeted capital reinvestment.
Eagle Partners, a vertically-integrated multifamily real estate investor and operator, partnered with Red Stone Equity Partners, JPMorgan Chase, California Housing Finance Agency (CalHFA), and Affordable Housing Access to do upon the market-to-affordable conversion.
Eagle Partners will restrict up to 350 units to households earning up to 80% of Area Medium Income (AMI) with an emphasis on minimizing tenant displacement.
“There is substantial need to increase access to and maintain the quality of attainable housing across Southern California and beyond,” said Taylor Friend, a Managing Partner of Eagle Partners. “We are proud to partner with best-in-class organizations to find creative ways to meet the needs of the community while also making value for our investment partners.”
The Hills at Hacienda Heights will be the second – and largest – CalHFA affordable housing preservation equity transaction in California.
“As part of the state’s overall housing finance strategy, CalHFA is continually exploring creative ways to boost and preserve the supply of affordable housing for Californians earning low to moderate incomes,” said CalHFA Executive Director Tony Sertich. “We are thrilled to be part of this collaboration that will preserve affordability for so many deserving families.”
Red Stone Equity Partners, a leading real estate investment firm specializing in affordable housing, partnered with JPMorgan Chase to do 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 buy and preserve existing affordable rental housing throughout the country.
“Investing in The Hills at Hacienda Heights’ affordable conversion alongside Eagle Partners represents the kind of strategic collaboration that Red Stone seeks with sophisticated operators as we continue to prudently deploy impact capital into affordable housing,” said Brian Fishback, Director of Alternative Investments at Red Stone Equity Partners. “This transaction reflects our commitment to preserving affordability, and we look forward to seeing the lasting impact this investment will have for residents and the broader Hacienda Heights community.”
Situated on approximately 10.5 acres and originally built in 1970, The Hills at Hacienda Heights is a recently renovated community of 1-, 2- and 3-bedroom homes offering a multitude of high-quality amenities, including a gym, business center, three pools and a spa, and expansive open areas. The community represents nearly 40% of all apartment inventory in Hacienda Heights.
“This acquisition underscores what is possible when sophisticated capital aligns with a clear purpose, and that positive impact can be married with compelling financial returns to better the communities that we operate within,” said Shahny Lutfeali, a Managing Partner of Eagle Partners. “In addition, we want to thank Kevin Green and the Institutional Property Advisors team for their collaboration throughout the sales process.”

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COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Venture on Venetucci, a 336-unit multifamily community in Colorado Springs. Thompson Thrift expects to welcome the first residents in March 2027.
“Colorado Springs continues to stand out as one of the nation’s fastest-growing economies, supported by billions in new investment and thousands of new jobs,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Our newest community reflects that same momentum, bringing Thompson Thrift’s signature blend of quality, luxury and lifestyle to a market that values exceptional living experiences.”
Located at 4446 Venetucci Blvd., the 16.5-acre community will feature spacious one-, two- and three-bedroom apartment homes averaging 1,000 square feet. Each residence will include premium interior finishes such as elegant quartz countertops, stainless-steel appliances, smooth glass-top ranges, timeless tile backsplash and hardwood-style flooring. Residents will also delight in large walk-in closets, walk-in showers, patio and balcony options, private yard options, detached garages, full-size washers and dryers, high-speed internet access, an Amazon package hub and more.
Resort-style living will continue throughout the community and feature a fully equipped fitness center with 24-hour access, a heated swimming pool, community grilling areas, a pickleball court, billiards, shuffleboard, dog park, pet spa with grooming stations, and a resident business center with a conference room and focus suites.
The site offers stunning views of Pikes Peak and Cheyenne Mountain, along with simple access to nearby trails and an abundance of outdoor recreation. South Academy Highlands, one of the city’s newest shopping centers, will provide residents with retail and quick-casual restaurant options including Sam’s Club, Walmart, MOD Pizza, Jersey Mike’s Subs, and Starbucks. Broadmoor World Arena, an 8,000-seat multi-purpose arena, and Cheyenne Mountain Shopping Center are just a few minutes away and will offer residents with additional shopping and entertainment options.
Venture on Venetucci offers brilliant visibility and connectivity to S Academy Blvd., and Interstate 25 provides simple access to downtown Colorado Springs and Colorado Springs Airport. Top area employers include Fort Carson, Amazon Distribution and UCHealth Memorial Hospital Central, all within six miles of the site.
Peak Innovation Park, a 1,600-acre master plotted business park near Colorado Springs Airport, is less than five miles from the property and currently has 4,000+ employees across multiple businesses, including three Amazon facilities, Aerospace Corporation and Northop Grumman.
Colorado Springs ranks 5th out of 403 cities nationally on Milken Institute’s 2025 Best-Performing Cities – Economic Resilience and Opportunity report. Since 2022, 23 companies have announced expansion plans in Colorado Springs with development projects that will bring more than 4,000 jobs and over $2 billion in capital investment.
Colorado Springs has made a significant investment in tourism and entertainment, including the new U.S. Olympic & Paralympic Museum, Weidner Field, Ed Robson Arena, the Hybl Sports Medicine & Performance Center and the Air Force Academy Visitor Center. These projects are expected to provide over a billion-dollar economic impact and generate thousands of jobs.

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ELIZABETHTOWN, PA – Greystar, a global leader in the investment, development, and management of real estate, announced that its new apartment community The Henry at Klein Mills is now pre-leasing with first go-ins slated for fall.
“We’re proud to introduce a fresh, new housing option to Lancaster County with The Henry at Klein Mills,” said George Hayward, Managing Director of Development at Greystar. “This community represents our first of what we hope are many investments in the quick-growing Lancaster-Harrisburg area. Residents will delight in an elevated amenity package and in-unit experience, including quieter units, that set us apart from other offerings in the Elizabethtown area, all in a prime location with simple access to Lancaster, Hershey and Harrisburg.”
The Henry at Klein Mills offers one-, two- and three-bedroom layouts that range from 616 sq. ft. to 1,115 sq. ft. Apartment homes feature: Open concept floorplans; Superior soundproofing; Spacious closets; Stainless steel appliances; In-home washer and dryer; Keyless door entry; Smart thermostats; and Pre-installed high-speed internet.
The community is situated in a natural setting with an abundance of trees and green space for residents to delight in. The Henry’s amenities include: Resident lounge; Top-tier fitness center; Heated swimming pool; Sun deck; Dog park; Community-wide Wi-Fi; EV charging; Bike storage; and 24-hour emergency maintenance.
The Henry at Klein Mills offers a prime location in Elizabethtown, just minutes from Elizabethtown College, downtown shops, Weis Markets, Moo-Duck Brewery and the Campus Ridge Farmer’s Market as well as the Mars factory, the state government in Harrisburg, Masonic Village and other job centers.. Residents delight in simple access to Lancaster, a vibrant town known for its rich Amish heritage and abundance of handcrafted goods and baked treats.
Nearby Hershey Park delivers fun with its world-class amusement park, concert venue, Hershey’s Chocolate World and one of the largest car shows hosted by the Antique Automobile Club of America. Nearby Harrisburg provides a wealth of career opportunities, museums and entertainment options. Harrisburg International Airport is conveniently located in nearby Middletown.

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