SALT LAKE CITY— August 8, 2023 — 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.
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