Eagle Partners, a vertically integrated multifamily investment manager and operator focused on attainable housing, has 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.
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 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.”
The Escondido acquisition represents Eagle’s second preservation transaction and further establishes the firm’s footprint in Southern California. 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.
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 a 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.