BRIDGE Housing Acquires 340-Unit Bethany Meadows to Preserve Affordable Housing

BRIDGE Housing acquired Bethany Meadows, a 340-unit income-restricted apartment community near Beaverton in the Portland metro area, to permanently preserve long-term affordability for households earning up to 60% of AMI. The purchase (reported at approximately $64.6 million) preserves affordability restrictions that were set to expire in a few years and is financed in part through BRIDGE's revolving credit facility backed by Morgan Stanley and National Equity Fund.