The 154-unit Briston Arms Apartments in Cambridge will undergo improvements thanks to $45.1 million in MassHousing financing.

Preservation of Affordable Housing (POAH) of Boston has acquired Briston Arms and plans to extend the rental subsidies on 73 of the apartments. An additional 46 apartments will receive new rental assistance subsidies and 35 of the apartments will continue to be rented at market rates.

“Cambridge is one of the hottest real estate markets in the country right now,’’ MassHousing Executive Director Thomas R. Gleason said in a statement. “Thankfully POAH, which has an excellent track record of preserving quality affordable rental housing, has purchased the property and will keep it affordable for the residents.’’

Among the improvements planned for Briston Arms are new windows, storm doors, roofing and siding as well as masonry repairs. The property will also be brought into compliance with current accessibility requirements.

The contractor will be NEI General Contracting and the architect is Davis Square Architects. The property manager will be POAH Communities. Work is expected to begin on the property in August.