Investment funds advised by Goldman Sachs Asset Management and Blackstone Strategic Partners joined with multifamily investment firm Ashcroft Capital this month to help it expand its Sun Belt holdings.
The partnership expects to invest in value-add multifamily properties with an estimated aggregate cost of $800 million.
The partnership already has acquired apartment communities with a total cost exceeding $600 million done through a recapitalization of approximately 10 apartment communities that were already in Ashcroft's portfolio. These communities are located in Texas and Florida and total approximately 3,000 apartment homes.
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