CAF Funds, a subsidiary of CAF Companies, partnered with Urban Investment Group within Goldman Sachs Asset Management to acquire a portfolio of eight multifamily housing communities in Dallas-Fort Worth.
The portfolio spans 2,766 units, bringing CAF’s Impact + Housing platform to upwards of 6,000 units across metropolitan Texas.The intent behind the strategic partnership between CAF and Goldman Sachs is to help preserve affordable housing and implement social programs to benefit residents on site.
Along with self-imposed rent restrictions and social programming, CAF and Goldman Sachs plan to engage in environmental sustainability audits to assist in capital improvements aimed at increasing energy efficiency across the portfolio. Those improvements could include LED lighting, more efficient water fixtures, updated HVAC units and smart landscaping.
“We are proud to continue our partnership with CAF to preserve access to affordable housing for families in the Dallas-Fort Worth region,” said Sherry Wang, co-head of the Urban Investment Group at Goldman Sachs, in a prepared statement. “With the potential to expand resident services through resources like after-school childcare, we have the opportunity to support the overall wellbeing of our tenants,” Wang continued.
Goldman Sachs' Urban Investment Group has financed the creation and preservation of more than 53,000 housing units, the majority of which are affordable to low- and moderate-income families.
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