Eagle Real Estate Partners, LLC, a multifamily investment firm focused on the Western United States, announced it has entered into a strategic, programmatic GP co-investment partnership with TriPost Capital Partners, LLC, a New York-based multi-strategy real estate private equity firm.
Under the partnership, TriPost will commit more than $50 million in GP co-investment capital, supporting EREP’s ability to acquire up to approximately $1.5 billion in multifamily assets across the West Coast and other select markets.
The partnership is designed to accelerate EREP’s acquisition strategy across a diverse range of investment profiles, including fully regulated affordable housing, market rate to affordable conversions and market rate workforce housing investments across value-add and core-plus business plans. With deep expertise in the acquisition, management and development of multifamily assets, as well as a proven track record executing institutional joint ventures across Southern California, EREP is well positioned to deploy this programmatic capital across a robust pipeline of opportunities in the region.
Shahny Lutfeali, managing partner and co-founder of Eagle Real Estate Partners, shares, “TriPost’s programmatic commitment will enable EREP to continue to execute on the full breadth of its multifamily strategy across the West Coast and beyond. We see tremendous opportunity in the long-term fundamentals of attainable housing and this strategic partnership will position us to move decisively on a robust pipeline of opportunities that create value for our investors and meaningful impact for the communities we serve.”
“Eagle Real Estate Partners is building an exceptional platform led by experienced founders with deep market expertise and a demonstrated ability to execute across complex multifamily strategies,” said Brad Carroll, co-founder and managing partner at TriPost Capital Partners. “We are excited to partner with the EREP team through this programmatic GP co-investment to support their continued growth and pursue compelling opportunities across the West Coast multifamily market.”
The partnership has executed on two anchor transactions. EREP, alongside TriPost and other institutional capital partners, acquired Hills at Hacienda Heights and Hendrix and Hadley. Hills at Hacienda Heights is a 350-unit multifamily community in Los Angeles County and was acquired for $107 million. The asset has been repositioned through a market rate to affordable conversion, leveraging EREP’s expertise in structured affordability programs to drive long-term community impact and risk-adjusted returns.
In addition, the joint venture also acquired the Hendrix and Hadley Apartments, a 551-unit portfolio of age-restricted active adult communities sourced off-market, for $162.5 million. The business plan for the portfolio includes a market rate to affordable conversion, further advancing the partnership’s focus on providing attainable, high-quality housing across the region.
Looking ahead, EREP and TriPost will continue to pursue acquisitions across California, the broader West Coast and other select markets, targeting communities where the partnership’s collective operational expertise and institutional relationships can be leveraged to address critical housing needs.
