Real Estate Fund Manager American South Capital Partners (ASCP), a joint venture between SDS Capital Group and Vintage Realty Co., has completed the first closing of its newest affordable housing investment vehicle, American South Real Estate Fund III (ASREF III), securing $60 million in initial capital commitments toward its $500 million target.
ASREF III builds on the strong momentum of its predecessor, ASREF II, which closed in February 2024 with $174 million in equity commitments, including the fund’s first pension capital investment through funds managed by GCM Grosvenor. Investor commitments in ASCP’s mission-driven platform, which focuses on the preservation and development of affordable and workforce housing throughout the Southeastern United States, continues to accelerate. All of the ASREF III first close commitments are from investors who previously backed ASCP’s earlier funds, underscoring the platform’s strong performance and credibility.
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