Asland Capital, Goldman Sachs UIG launch Asland Sustainable Housing Fund, close first acquisition

Asland Capital Partners, a private real estate investment firm specializing in multifamily and mixed-use investments, has joined forces with the Urban Investment Group within Goldman Sachs Asset Management (Goldman Sachs) to launch the Asland Sustainable Housing Fund (ASH).

Together, the firms acquired the Heighliner Portfolio, an affordable housing portfolio located in Upper Manhattan and the Bronx. ASH’s inaugural, milestone deal comprises five assets, 334 residential units and several community-focused retailers spanning nearly 250,000 square feet. The portfolio was acquired for $45.2 million.

In collaboration with the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC), ASH will preserve affordable housing for more than 700 residents over a 40-year period. This transaction represents the seed investment of ASH’s broader strategy, which aims to deploy an initial $250 million towards c