Rising Tide, our nonprofit partner, has acquired OC Apartment Homes, a 56-unit community in Anaheim, California. Steadfast will manage the property following closing. Rising Tide will own the community, with Steadfast contributing its experience in apartment operations.
Located at 1251 North Placentia Avenue, OC Apartment Homes consists of three two-story buildings with one- and two-bedroom apartments. The community includes a landscaped courtyard, pool, spa, barbecue area, and shared laundry facilities.
The partnership has roots in Steadfast’s leadership. Rod Emery, our founder, helped establish Rising Tide, a transitional housing and training initiative for young people leaving foster care and social services. His involvement reflects a longstanding commitment to helping young adults build stability as they move toward independent living.
The program began in 1999. Its original model set aside apartment units at reduced rents for young adults leaving foster care. Rent from the remaining units helped cover those housing costs and services such as counseling, job assistance, and mentoring.
Through Orangewood Foundation, the existing Rising Tide housing program serves young adults ages 18 to 25 who are experiencing homelessness, are at risk of homelessness, or were formerly in foster care. Participants can live in an apartment for up to two years while working toward permanent housing.
Steadfast already manages Flanders Pointe in Tustin and Orange Tree in Garden Grove, two communities used by the Rising Tide program. Managing OC Apartment Homes will continue that existing relationship. The management work will include leasing, rent collection, maintenance, resident communication, and oversight of operating expenses.
For a nonprofit owner such as Rising Tide, dependable operations help protect the property and support the work the organization is trying to accomplish. This partnership puts Steadfast's operating experience to work for a nonprofit with an established housing mission that we care deeply about.
➡️ Explore more Steadfast Direct company news.
Disclaimer: The information provided in this article is for informational and educational purposes only. It is not intended to serve as investment, tax, or legal advice, nor should it be interpreted as an offer to buy or sell any security. Private real estate investments carry significant risks, including the potential loss of principal, and are intended for accredited investors who understand and can bear those risks. Any discussion of tax treatment relates solely to the property-level structure and does not reflect or predict individual investor outcomes. Tax implications vary based on each investor’s circumstances, and readers should consult their own financial, legal, and tax advisors before making any investment decision.
.png)
