Finance
Goldman Joint Venture Makes $1.15 Billion Bet on Affordable Housing
- 90 properties are in cities including Chicago and Dallas
- The average monthly rent of the 10,000 units is below $1,000
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Goldman Sachs Group Inc.’s Urban Investment Group teamed up with the Michaels Organization and the Community Development Trust to buy a $1.15 billion portfolio of 90 affordable housing complexes.
The deal is for more than 10,000 apartments that on average rent for less than $1,000 per month, executives said in an interview.