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.

The partnership acquired Vineyard Gardens Apartments for $65.8 million from a joint venture between Angelo Gordon and Glencrest Group. Located at 220-240 Burt St, Santa Rosa, the property features 180 units in a mix of one- and two bedroom floor plans and an amenity package that includes a fitness center, pool and spa, bocce court, outdoor fireplace, playground area, and resident parking.