Bridge Investment Group Announces Acquisition of Boston-Area Workforce & Affordable Housing Portfolio
August 08 2023 - 12:16PM
Business Wire
Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”)
today announced that a fund managed by Bridge Multifamily Fund
Manager LLC, an affiliate of Bridge, has closed on the acquisition
of a six-property portfolio of Workforce & Affordable Housing
properties in the Greater Boston area, with a total of 1,722
residential units.
Rachel Diller, Chief Investment Officer for Bridge’s workforce
and affordable housing strategy commented: “The acquisition expands
our Workforce & Affordable Housing geography into another
attractive major market. The portfolio consists of well-located
assets within four high-barrier-to-entry counties in the Greater
Boston area, offering convenient access to major transportation
arteries. Our commitment to preserving and rehabilitating housing
for America’s workforce remains strong. We will provide social and
community programming that focuses on the education, health and
financial wellness of our residents. We aim to create vibrant,
thriving communities that are more than just ‘four walls and a
roof’ and look forward to enhancing the quality of life for our
Boston-area residents.”
Bridge drives value by making upgrades to unit interiors and
common areas, executing with a vertically integrated, best-in-class
property management team, while preserving irreplaceable affordable
housing for the “missing middle.”
About Bridge
Bridge is a leading alternative investment manager diversified
across specialized asset classes, with approximately $48.9 billion
of assets under management as of June 30, 2023. Bridge combines its
nationwide operating platform with dedicated teams of investment
professionals focused on select U.S. verticals across real estate,
credit, renewable energy, and secondaries strategies.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, which relate to future events or our future performance or
financial condition. All statements other than statements of
historical facts may be forward-looking statements. In some cases,
you can identify forward-looking statements by terms such as
“outlook,” “could,” “believes,” “expects,” “potential,”
“opportunity,” “continues,” “may,” “will,” “should,” “over time,”
“seeks,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates,” “foresees” or negative versions of those words,
other comparable words or other statements that do not relate to
historical or factual matters. Accordingly, we caution you that any
such forward-looking statements are based on our beliefs,
assumptions and expectations as of the date made, taking into
account all information available to us at that time. These
statements are not guarantees of future performance, conditions or
results and involve a number of risks and uncertainties that are
difficult to predict and beyond our control. Actual results may
differ materially from those express or implied in the
forward-looking statements as a result of a number of factors,
including but not limited to those risks described from time to
time in our filings with the Securities and Exchange Commission.
Any forward-looking statement speaks only as of the date on which
it is made. Bridge undertakes no duty to publicly update any
forward-looking statements made herein or otherwise, whether as a
result of new information, future developments or otherwise, except
as required by law. Nothing in this press release constitutes an
offer to sell or solicitation of an offer to buy any securities of
Bridge or any investment fund managed by Bridge or its
affiliates.
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version on businesswire.com: https://www.businesswire.com/news/home/20230808820023/en/
Shareholder Relations: Bonni Rosen Bridge Investment
Group Holdings Inc. shareholderrelations@bridgeig.com
Media: Charlotte Morse Bridge Investment Group Holdings
Inc. (877) 866-4540 press@bridgeig.com
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