The Goldman Sachs Group Inc., through its Urban Investment Group (UIG), has committed $23 million to a new fund sponsored by Jonathan Rose Cos.' investment practice.
The fund, Rose New Jersey Green Affordable Housing Preservation Fund LLC, will acquire existing, Community Reinvestment Act-eligible affordable housing in mass-transit-accessible locations throughout New Jersey, with a focus on Hudson and Essex counties.
The Rose New Jersey Green Affordable Housing Preservation Fund will improve assets through a ‘green’ capital improvement and operations program, Jonathan Rose Cos. says. The fund will obtain third-party verification of its work through LEED or Enterprise Green Community Standards.
SOURCE: Jonathan Rose Cos.