Ridge Capital Investors has closed on its third Bay Area acquisition in the last 60 days. In a joint venture with Contrarian Capital Management and Andell Holdings, Ridge Capital Investors has acquired a two-property apartment portfolio totaling 444 units in the East Bay.

In this latest acquisition, the joint venture acquired Gateway Apartments, a 236-unit apartment community in San Leandro, and Austin Commons, a 208-unit, garden-style apartment community in Hayward. Both properties are near a BART station. Ridge plans to execute a capital improvement plan, upgrading the amenities and interior units. FPI Management will manage the property.

In the last 60 days, Ridge has also acquired 52,000-square-foot office building in Walnut Creek and a 95-unit apartment community in Dixon. The four properties were acquired for a combined $189.5 million. The transactions illustrate the firm's bullishness on the Bay Area market, which was badly impacted by the apartment. "We are investing with conviction that the overall economy will weather the effects of Pandemic conditions, and that life will return to normalcy over the near term,"  said Trevor Wilson, managing director of Ridge Capital Investors, in a statement.