HVPG Acquires 387-Unit ‘Mosa Apartment Homes’ in Elk Grove, California

ELK GROVE, Calif. - May 19, 2026 - $83.6 million transaction expands HVPG's California portfolio in the Sacramento metropolitan area.

Hudson Valley Property Group ("HVPG"), a leading, national affordable housing preservation company, today announced its acquisition of ("Mosa"), a 387-unit, newly-constructed affordable multifamily rental community located at 10149 Bruceville Road in Elk Grove, California.

Total project costs related to this transaction are approximately $83.6 million, inclusive of the assumption of permanent debt. The acquisition expands HVPG's growing California portfolio, advancing its mission to secure long-term, high-quality affordability across high-cost West Coast housing markets.

Completed in 2025, Mosa is a 14-building, garden-style family community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement covering 100% of units, with HVPG acquiring the general partner interests in all three. Approximately 8% of units are further supported by tenant-based vouchers, and income restrictions span 30%, 50%, 60% and 80% of area median income (AMI). As a result of HVPG's acquisition, affordability at Mosa is locked in for an additional 30 years, and no residents will be displaced through the transaction.

"Mosa represents a meaningful expansion of our West Coast portfolio and preservation strategy, extending our work to safeguarding affordability at newly-delivered communities in addition to repositioning legacy properties," said Jason Bordainick, Co-Founder and Managing Partner of Hudson Valley Property Group. "By stepping into ownership shortly after completion, we are helping ensure that 387 families benefit from a quality, well-managed home with long-term affordability protections for decades to come. We are grateful to our partners at the City of Elk Grove and the California Municipal Finance Authority for their support of this important transaction."

The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners and public finance support facilitated by the California Municipal Finance Authority (CMFA) and the City of Elk Grove.

HVPG will focus on delivering operational excellence and resident-centered programming through a partnership with California-based nonprofit Pacific Housing, Inc. Pacific Housing will serve as the Managing General Partner in the transaction and will provide on-site residence services including afterschool and teen programing, adult education and skill-building classes, and individualized service coordination connecting residents to community resources. The property also features an on-site management office, computer room, fitness center, library, in-unit washers and dryers, and advanced high-definition site monitoring. Rooftop solar panels power the residential units, reducing tenant utility costs and the property's carbon footprint.

Mosa is HVPG's second property located in California. Across its national portfolio, HVPG has preserved 18,700 units across 99 properties in 13 states.