Two multifamily investment firms, Eagle Real Estate Partners and the Vistria Group, have purchased the Crystal View Apartments in Garden Grove for $132.5 million.

The deal for the 402-unit workforce housing community extends existing affordability restrictions and adds new ones.

Now, 20% of the units are reserved for households earning up to 50% of the area median income (AMI), and another 30% are for those earning up to 80% of AMI.

The new owners are also planning capital improvements for the community, which was originally built in 1968.

This acquisition is part of a larger trend of preserving affordable housing in Southern California, with the firms involved having recently made similar purchases in Los Angeles and San Diego counties.

The deal addresses the significant need for affordable housing in Orange County, which is described as one of the most supply-constrained housing markets in the country.