Bridge Investment Group has purchased a portfolio of three multifamily properties in the Southwest. The company paid $201.8 million for the portfolio. The sellers were JB Partners and Institutional Property Advisors, which procured the sale. The portfolio includes The Villages at Metro Center, Crystal Creek, and Indigo Park in Albuquerque, N.M. The group intends to deploy over $2.0 billion in the multifamily space over the next two years.
The company owns a subsidiary, Bridge Investment Group, which offers real estate and home-repair financing. The parent company of StepStone Group Inc. does not undertake any duty to update forward-looking statements, even if new information or future events occur. Further, this press release does not constitute an offer or solicitation to buy securities. This company has made two investments through Bridge Investment Group. If you are interested in learning more about Bridge Investment Group and its other subsidiaries, read the following.
Established in 2014, Bridge Investment has been making loans and providing resources to small businesses and emerging businesses for over four years. Since its inception, it has originated over $4 million in loans. In addition to providing small businesses with the resources they need to expand, Bridge Investment is a certified CDFI. Its investments have the potential to strengthen economically-disadvantaged communities. Its mission is to empower local entrepreneurs to create jobs and economic opportunities in underserved areas.
Bridge Investment Group, with $25.0 billion in assets under management, is an integrated real estate investment manager with a nationwide operating platform and dedicated teams of investment professionals focused on select U.S. real estate sectors. The company employs over 1,650 people nationwide, including approximately 2,500 professionals through professional employment organizations at its Bridge Senior Living locations. The firm believes that opportunity lies in the development of workforce housing, affordable housing, and multifamily properties. These sectors are key to the success of the company.
The company’s portfolio includes aging commercial office buildings in prime suburban submarkets. The firm leverages its deep industry expertise to identify high-quality office properties with exceptional risk/reward metrics. In addition to focusing on investment opportunities, Bridge Investment Group is committed to strengthening its organizational culture through internal initiatives. In 2019, the organization created a Diversity, Equity, and Inclusion committee and strengthened its efforts in the area of Environmental, Social, and Corporate Governance. It also increased its presence in Opportunity Zones, where development and preservation of workforce housing is a key focus.