Goldman Sachs, Michaels and CDT to acquire a portfolio of 90 affordable housing complexes for $1.15bn.

Goldman Sachs, an investment banking company, Michaels Organization, a residential real estate company, and the Community Development Trust, an investor in affordable housing, agreed to acquire a portfolio of 90 affordable housing complexes for $1.15bn. “Affordability is at the lowest point it’s ever been — as a country, we’re not going to be able to build affordable housing at scale to make any sort of dent in the crisis. Sometimes in difficult markets, you can make the most significant investments and have an impact," Dan Alger, Goldman’s UIG Co-Head.