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Barker Pacific acquires parts of A.F. Evans' portfolio
Bayside Communities has acquired AF Evans' affordable housing properties valued at $300 million. Bayside is a new joint venture between Barker Pacific Group, Luzzatto Company and Lion Real Estate Group. The entity was able to make the acquisition because of AF Evans bankruptcy filing. Overall, Bayside acquired the general partner interests in more than 2100 units across California, Washington and Oregon, with plans for further acquisition to take place. From the Registry:
Bayside bought the general partner interests in 20 multi-family properties totaling 2,135 units in California, Washington and Oregon. Bayside Communities will acquire general partner interests in another 12 properties from the A.F. Evans’ portfolio over the next few weeks. While the properties have a value of about $300 million, Barker Pacific President Michael Barker declined to disclose the acquisition price.
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