Ivanhoe Cambridge has joined a partnership of the real estate principal investment area of Goldman, Sachs & Co., Greystar Real Estate Partners and other partners in a portfolio of 27 high-quality multi-residential properties in core strategic locations across the U.S.

The partnership follows Goldman Sachs and Greystar’s recent acquisition of the assets from Equity Residential in a transaction valued at $1.5 billion US.

The income-producing portfolio of Class A and B apartment communities features 8,010 units located in markets that are characterized by high barriers to entry as well as strong economic and job growth potential. The vast majority of the assets were built between 1990 and 2000, and are located in high-performing sub-markets of key cities.

The partners have agreed to embark upon a multi-year maintenance and renovation investment program for all assets.

“Ivanhoe Cambridge’s significant participation in this transaction aligns perfectly with our strategic plan to seize promising real estate investment opportunities and increase our critical mass with a well-distributed diversification in priority U.S. markets,” says Sylvain Fortier, executive vice-president of residential and hotels at Ivanhoe Cambridge. “We believe we found in Greystar a highly skilled, respected operator and investment partner. The investment and operational expertise of the partnership will serve to strengthen the value of the assets and generate attractive returns for our investors.”