AION Partners and Vintage Strategies at Goldman Sachs Alternatives Announce $700 Million Recapitalization and New Joint Venture to Expand Workforce Housing

AION Partners, a leading national real estate owner and operator of workforce multifamily housing, is thrilled to announce a strategic partnership with Vintage Strategies at Goldman Sachs Alternatives and a global institutional investor. This collaboration includes:

• A $700 million recapitalization of the AION 12 Portfolio, consisting of 3,962 apartments across New Jersey, Pennsylvania, Delaware, Maryland, and Virginia.
• A $1 billion joint venture, targeting 4,000 to 6,000 new workforce housing units through value-add multifamily acquisitions backed by a $300 million equity commitment.

Michael Betancourt, Founding Partner and Managing Director of AION Partners, stated:

“As the undersupply of attainable housing persists, AION’s skill in acquiring and redeveloping workforce communities is essential to providing high-quality, affordable homes that benefit middle-income families and strengthen local economies. This partnership allows us to broaden our impact in regions where demand is strongest.”

Since 2011, AION has acquired and redeveloped over $3.9 billion in workforce housing, comprising more than 29,000 apartment homes. With a focus on middle-income families, AION continues to lead the way in addressing the critical need for high-quality, affordable homes near workplaces.

Read the full announcement: https://www.prnewswire.com/news-releases/aion-partners-and-vintage-strategies-at-goldman-sachs-alternatives-announce-700-million-recapitalization-and-new-joint-venture-to-expand-workforce-housing-in-the-mid-atlantic-302319957.html?tc=eml_cleartime