Michael Van Der Poel

NEW YORK CITY—Global private markets investment management firm Hamilton Lane has recapitalized a workforce housing portfolio owned by Asia Capital Real Estate, or ACRE, for $147 million. The portfolio includes more than 1,700 apartments located in Florida, Ohio and Georgia, which have been folded into a new fund structure. It is a meaningful transaction for ACRE, says Michael Van Der Poel, co-founder and managing partner of the long-term affordable housing owner operator.

It’s significant because of its size but also because of the institutional backer, he says. “We have been investing in workforce and affordable housing for seven years and have spent much of that time educating institutional investors about their merits and differentiating factors.” Up until now, Van Der Poel says, ACRE has secured much of its financing from family offices.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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