Hudson Valley Property Group Acquires 387-Unit Mosa Apartment Homes in Elk Grove for $83.6 Million

ELK GROVE, Calif. — May 19, 2026 — Hudson Valley Property Group has completed the acquisition of Mosa Apartment Homes, a 387-unit affordable multifamily real estate community in Elk Grove, California, in a transaction with total project costs of approximately $83.6 million. The deal expands the firm's California portfolio and locks in long-term affordability protections at a property completed just last year.

Deal Structure and Financing

The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by RedStone Equity Partners. Public finance support was facilitated by the California Municipal Finance Authority and the City of Elk Grove. Total project costs of approximately $83.6 million are inclusive of the assumption of permanent debt, according to Hudson Valley Property Group.

The property at 10149 Bruceville Road is structured across three Low-Income Housing Tax Credit partnerships, each subject to its own regulatory agreement covering 100% of units. Hudson Valley Property Group acquired the general partner interests in all three partnerships. Income restrictions span 30%, 50%, 60%, and 80% of area median income, and approximately 8% of units are further supported by tenant-based vouchers.

As a result of the transaction, affordability at Mosa is locked in for an additional 30 years, and the firm stated no residents will be displaced through the deal.

Property Overview: Mosa Apartment Homes

Completed in 2025, Mosa Apartment Homes is a 14-building, garden-style family community offering a mix of unit types serving a broad range of household income levels. The property includes an on-site management office, computer room, fitness center, library, and in-unit washers and dryers. Rooftop solar panels power the residential units, reducing tenant utility costs and the property's carbon footprint, according to the firm. Advanced high-definition site monitoring is also in place.

The property is located in Elk Grove, a city in the Sacramento metropolitan area. Hudson Valley Property Group described the acquisition as part of its strategy to secure long-term, high-quality affordability across high-cost West Coast housing markets.

Hudson Valley Property Group's Preservation Strategy

Hudson Valley Property Group describes itself as a national affordable housing preservation company. Mosa is the firm's second property in California. Across its national portfolio, the firm has preserved 18,700 units across 99 properties in 13 states, according to the announcement.

"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."

Resident Services and Operational Partnership

Hudson Valley Property Group will focus on operational management and resident 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 resident services including afterschool and teen programming, adult education and skill-building classes, and individualized service coordination connecting residents to community resources.

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Sources: Hudson Valley Property Group — HVPG Acquires 387-Unit Mosa Apartment Homes in Elk Grove, California