AION Partners has partnered with Vintage Strategies at Goldman Sachs Alternatives and a global institutional investor to recapitalize the AION 12 Portfolio of 3,962 apartment units across 12 stabilized workforce housing multifamily properties in New Jersey, Pennsylvania, Delaware, Maryland and Virginia.
In addition to this nearly $700 million recapitalization, AION has formed a strategic partnership to increase workforce housing across the eastern United States. The joint venture targets $1 billion in value-added multifamily acquisitions, with plans to add 4,000–6,000 apartment units, backed by a $300 million equity commitment. The joint venture will combine a 49 percent investment from a global institutional investor and 51 percent by AION Value Add III LP, AION’s third discretionary fund vehicle. Goldman Sachs Alternatives will be an investor in AION Value Add III LP’s first close, slated for the fourth quarter of 2024.
“As the undersupply of attainable housi
