About Goldman Sachs Urban Investment
The firm is the primary vehicle through which Goldman Sachs provides long-term capital for both corporations operated or owned by ethnic minorities and real estate developers targeting urban communities.
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Latest Goldman Sachs Urban Investment News
May 6, 2021
NEW YORK, May 6, 2021 /PRNewswire/ — Asland Capital Partners, Cedar Realty Trust (NYSE: CDR ) and the Goldman Sachs Urban Investment Group announced the formation of a joint venture for the construction of the first phase of Northeast Heights, a mixed-use office and retail development in the Minnesota/Benning submarket of Washington D.C.’s Ward 7 neighborhood. The partnership also announced it has secured $105 million in construction financing from J.P. Morgan. The first phase of Northeast Heights is a 258,500 square foot six-story commercial building. The office space is 100% leased to the Washington, D.C., Department of General Services (DGS) for its headquarters. The building includes 18,000 square feet of street-level retail. Cedar Realty Trust and Asland Capital Partners are co-developing the property while the Goldman Sachs Urban Investment Group is serving as a strategic capital partner. Trammell Crow Company, one of the nation’s largest commercial real estate developers and investors, is the designated fee developer. A JLL Capital Markets team comprised by Roland Merchant Jr., Nicco Lupo and Thomas Pryor arranged the debt and equity financing. Relocation of the DGS headquarters to Ward 7 was announced by Mayor Muriel Bowser in 2020 as part of the city’s revitalization strategy to spark economic activity and investment in the area, and to bring retail, entertainment and dining options to the neighborhood. Construction is expected to begin in Q2 2021. “Formation of this joint venture represents an important first step in advancing Cedar Realty Trust’s vision for Northeast Heights, a mixed-use redevelopment project that will bring substantial economic activity to Ward 7,” said Robin Zeigler, Chief Operating Officer of Cedar. “As the cornerstone and catalyst to the Northeast Heights redevelopment, construction of the DGS headquarters building will begin the long-planned revitalization of the Minnesota/Benning Corridor. We are grateful for the support of our partners, lenders, and local Washington, D.C. governmental officials who have been instrumental in achieving this milestone.” “Asland is excited to be part of this major investment in the vibrant Ward 7 community. The development will create jobs and lay the groundwork to deliver much-needed goods and services that have been heretofore absent from this previously underserved enclave,” said James H. Simmons III, CEO & Founding Partner of Asland Capital Partners. “Northeast Heights was made possible by a shared vision for inclusive growth among public and private partners, and we are thrilled to support the District’s long-term commitment to the Benning Road corridor,” said Daniel Alger, managing director and co-head of the Goldman Sachs Urban Investment Group. “This project will create jobs, promote economic opportunity and will serve as a model for community development.” The area’s designation as an Opportunity Zone will allow for important tax incentives for investments in new business and commercial projects at Ward 7, a historically underserved market. The joint venture will work to lease the remaining retail space at the property to retailers that benefit tenants of the office building and bring necessary amenities and services to the area. “We believe that the impetus behind the opportunity zone program was precisely the development of projects such as Northeast Heights, aimed at creating vital investment opportunities on mixed-income, underserved neighborhoods,” added Mr. Simmons. “We are looking forward to continue working on this remarkable project and being part of the future of Ward 7.” “Trammell Crow Company is pleased to play a key role in the development of Northeast Heights on behalf of the ownership team of Cedar, Asland, and Goldman Sachs and to execute the District’s vision for the new DGS headquarters. As one of the District’s most active office developers, we look forward to bringing our expertise to this project and new partnership,” said Campbell Smith, Managing Director and Business Unit Leader for Trammell Crow Company MidAtlantic. About Cedar Realty Trust Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, D.C. to Boston. The Company’s portfolio (excluding properties treated as “held for sale”) comprises 54 properties, with approximately 8.2 million square feet of gross leasable area. For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company’s website at www.cedarrealtytrust.com . About Asland Capital Partners: Asland Capital Partners invests in residential and commercial assets in emerging submarkets within major U.S. growth cities, including New York, San Francisco, Chicago and Washington, DC. Specializing in multifamily, mixed-use and retail assets, the firm is focused on the revitalization of communities through the rehabilitation and repositioning of undervalued and underinvested assets. Asland’s principals have invested over $700 million of equity into workforce and affordable multifamily housing developments over the past decade, repositioning approximately 180 assets consisting of 11,200 multifamily units, 2 million square feet of mixed-use space and 170,500 square feet of retail space. For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company’s website at www.AslandCap.com . About the Goldman Sachs Urban Investment Group (UIG) Established in 2001, The Goldman Sachs Urban Investment Group (UIG) is an investing and lending business focused on community and economic development, predominately in underserved minority communities. Since its inception, UIG has committed over $10 billion through real estate projects, social enterprises, and lending facilities for small businesses, students, and individuals in order to create opportunity for underserved communities and families. UIG’s investing and lending has facilitated the creation and preservation of over 42,500 housing units – the majority of which are affordable to low, moderate and middle-income families – as well as over 2.8 million square feet of community facility space and over 11.2 million square feet of commercial, retail, and industrial space. SOURCE Cedar Realty Trust, Inc.; Asland Capital Partners Related Links NEW YORK, May 6, 2021 /PRNewswire/ — UrbanflixTV has secured Actress/Director Kim Fields to Executive Produce/Direct their new series VICIOUS. Kim Fields, is known for her roles in classic sitcoms like “Facts of Life” and “Living Single,” and more recently, starred in and served as an executive producer on Lifetime’s “You Light Up My Christmas.” Additionally, she has served as director for “All the Queens Men” for BET, “Young Dylan” for Nickelodeon and “House of Payne” for TBS. VICIOUS marks a partnership between the network and Karat Entertainment. Originally, a short film digital series, VICIOUS was created by Jill E. Ramsey, CEO of Jilly Thunda Productions. Ramsey will serve as showrunner as well as executive producer along with her Roman Ramsey Productions partner—television and film star, Tami Roman; and Kimberly Ogletree, CEO of Karat Entertainment. “I’m excited to be an Executive Producer on Vicious and having the capability of offering opportunities to up and coming actors and actresses and doing so with an all-female team is surreal. Being in business with UrbanflixTV is definitely a plus because we both stand behind creativity, diversity and inclusion,” Roman says. Written by acclaimed urban fiction authors, Amaleka McCall and Tu-Shonda Whitaker — VICIOUS is a half hour dramatic comedy that will introduce viewers to an in-depth exploration of an iconic fashion designer’s overwhelming success as it’s overshadowed by her deep denial about the cycle of abuse she internally endures. With the assistance of her secret weapon, Jaelyn Ryan, publicist to her Vicious Empire, Chantel works to rise through the ranks; but her husband Kane’s narcissistic behavior threatens to tear down the house Chantel built. Fields exclaims, “Bringing these fierce and flawed characters to life against the backdrop of the provocative fashion industry is a gig of slaying oh so delicious to me as a Director and an Executive Producer.” VICIOUS is currently in production. ABOUT URBANFLIXTV UrbanflixTV is a full-service streaming solution offering a captivating collection of content curated specifically for the urban audience. This premium streaming service allows viewers instant access to steamy, edgy, exclusive series and cinema created with Black creators and entertainers at its core. Accessible on a plethora of platforms including Android, iOS, Mac and PC; and digital streaming devices Apple TV, Roku,Amazon Fire, and Chromecast; UrbanflixTV brings cultural creativity straight to their audience as they’re introduced to fresh, feisty, gritty new favorites delivering both episodic series and movies, bringing Black on Black content back to the forefront for consumers craving urban entertainment. Keep up with UrbanflixTV.com on Facebook at F acebook.com/urbanflixtv/ , Instagram @urbanflix.tv and Twitter @urbanflixtv. Media Contact: BBQ Dragon Double Extreme Grill Light But this 2021 grill season promises to be even more popular than previous years, due to the increased popularity of outdoor cooking during the Covid pandemic. Sales of grills and smokers during the pandemic increased 39% compared to the same period the year previous year, according to a new report from The NPD Group, a U.S. retail tracking service. Because many Memorial Day BBQ chefs will also be purchasing new grills or accessories for the holiday, grill manufacturers traditionally launch new products at this time. BBQ Dragon is one grill company that has a reputation for creating innovative grill tools. They have just announced four brand-new products for this season that BBQ and grilling fans will wish they had: The “Chainmail” Grill Brush: If you’re worried about the danger of swallowing a wire bristle from regular grill brushes, this patent-pending brush uses “chainmail” like medieval knights wore for armor to clean the grill more safely. The “Double-Extreme” Grill Light: The world’s only double-headed LED grill and utility light, the two super-bright LED’s are mounted on separate goosenecks, so you can light two areas – the grill, and your prep surface, for example. Clips just about anywhere. The “Domino” Skewer Rack: For making shish-kabobs, this rack holds six 14″ skewers, but you only need to turn ONE skewer, and the remaining five turn automatically – “Domino” style – making the chore of carefully turning kabobs on the grill a lot easier. The Chimney of Insanity “XL” version: BBQ Dragon’s popular charcoal chimney works with their BBQ Dragon grill fan to start charcoal in just 2 minutes – and they have just released this “XL” version, which they claim is the largest charcoal chimney made. “The huge surge in sales created by the Pandemic gave us the opportunity to launch some new products,” said BBQ Dragon’s head of product development, George Prior. The company’s new “Chainmail Grill Brush” solves a well-known health danger of grilling: the accidental ingestion of steel bristles from grill cleaning brushes. According to Prior, the “bristle-free” brush solutions currently available use coiled wires instead of straight bristles. In the company’s testing, these brushes still wear out and allow wires to break off the coils. BBQ Dragon’s brush cleans the grill with a woven net of chain links that are both less likely to break free, and less dangerous if accidentally swallowed. As a result of the company’s emphasis on innovation, their products often look odd: The new “Double-Extreme Grill Light” clearly shows this visual difference: With two separate LED lamps on two long stainless-steel goose necks, the light immediately looks completely different from any other light we’ve seen. The massive clip also holds 4AA batteries. All four of the newly added products are available on their website at bbqdragon.com and online at major retailers like Target, Home Depot, and Lowes. BBQ Dragon is a popular grill accessories brand with 50 innovative products. The creators of the BBQ Dragon Fan and the 2-minute charcoal Chimney of Insanity, their mission is to create innovative products that inspire customers to excel at BBQ and at life. They believe that good tools inspire good BBQ, and good BBQ inspires good living. Contact: George Prior WASHINGTON, 6 de mayo de 2021 /PRNewswire-HISPANIC PR WIRE/ — El Consejo de principales oficiales escolares de los estados (CCSSO, por sus siglas en inglés) anunció hoy que Juliana Urtubey, maestra de educación especial de escuela primaria, es la Maestra Nacional del Año 2021. Urtubey ha ejercido su profesión como maestra por 11 años y actualmente enseña en Kermit R. Booker, Sr. Innovative Elementary School en Las Vegas. Ella trabaja como co-maestra en aulas de educación especial desde preescolar hasta quinto grado y como estratega instructiva desarrollando sistemas de apoyo para satisfacer las diferentes necesidades académicas, socioemocionales y de comportamiento de los estudiantes. Conocida como “Ms. Earth” (o Srta. Naturaleza) por sus esfuerzos para embellecer las escuelas y unificar la comunidad a través de murales y jardines, Urtubey ha ayudado a recaudar fondos para programas de jardinería en dos escuelas de Las Vegas. En uno de los programas, el jardín fue cuidado por un club de estudiantes llamado “Gnomos de jardín”. El programa ofreció oportunidades para el aprendizaje innovador de los estudiantes y el aprendizaje intergeneracional y conexiones con la comunidad. “Estoy tremendamente agradecida y encantada de ser reconocida como Maestra Nacional del Año 2021,” dijo Urtubey. “El privilegio y el honor de representar a los estudiantes brillantes, las familias diversas y los educadores resilientes de nuestra nación, me brindan una alegría infinita. Estoy firmemente comprometida a aprovechar nuestro poder colectivo en construir espacios educativos en donde todos los niños puedan prosperar. Al centrar las fortalezas de nuestros niños y sus familias, crearemos sistemas más justos para todos los estudiantes, valorando sus diversos dones culturales, lingüísticos, cognitivos y experimentales.” Urtubey está disponible para entrevistas en español. El Programa Nacional de Maestro del Año, un programa de CCSSO, identifica a maestros excepcionales en todo el país, reconoce su trabajo efectivo en el aula, los involucra en un año de desarrollo profesional, amplifica sus voces y los empodera para participar en discusiones de políticas a nivel estatal y nacional. Como Maestra Nacional del Año 2021 (NTOY), Urtubey pasará un año representando a los educadores y sirviendo como embajadora de los estudiantes y maestros de todo el país. Ella aboga por “una educación justa y alegre” para todos los estudiantes, una que sea inclusiva y que celebre las identidades, familias y comunidades de todos los estudiantes. “Juliana Urtubey ejemplifica la dedicación, la creatividad y el corazón que los maestros brindan a sus estudiantes y comunidades”, dijo la directora ejecutiva de CCSSO, Carissa Moffat Miller. “CCSSO ha tenido el honor de apoyar a educadores extraordinarios a través del programa Maestro Nacional del Año por 70 años. Felicito a Juliana Urtubey y espero su liderazgo y apoyo de ‘una educación alegre y justa’ para todos los estudiantes”. Cada año, maestros ejemplares de cada estado, jurisdicciones no estatales de EE. UU., el Distrito de Columbia y la Actividad Educativa del Departamento de Defensa son seleccionados como Maestros Estatales del Año. De ese grupo, el Maestro Nacional del Año es elegido por un comité de selección compuesto por 16 organizaciones educativas de renombre. El comité de selección dijo en un comunicado: “Juliana es una educadora dedicada que ha fomentado el crecimiento de sus estudiantes y una mayor conexión con su comunidad a través de su innovador programa de jardinería. Su objetivo es elevar a los demás, un verdadero ejemplo de una maestra con una disposición de ayudar a las personas a ver sus propias fortalezas. Juliana también es experta en diferenciar las prácticas de enseñanza para diversos orígenes y necesidades de los estudiantes. Una defensora atenta y auténtica de los estudiantes y la comunidad a la que sirve, Juliana tiene la experiencia, la pasión y el corazón para ser la Maestra Nacional del Año 2021”. Urtubey es la primera persona latina en ser nombrada Maestro Nacional del Año desde al menos 2005 y la primera persona de Nevada en llevar el título. Ella es una maestra certificada por National Board of Professional Teaching Standards. “Juliana es una líder docente excepcional y estamos muy orgullosos de que represente a los educadores de Nevada y de todo el país”, dijo la Superintendente de Instrucción Pública de Nevada, Jhone Ebert. “Es apropiado que Juliana sea la primera Maestra Nacional del Año de Nevada, ya que ejemplifica los valores de equidad e inclusión que impulsan nuestro trabajo colectivo para apoyar a los estudiantes y las familias. Juliana celebra y valora el conocimiento y las experiencias que los estudiantes aportan al aula, lo que contribuye a su gran capacidad para comprender y satisfacer las necesidades académicas y socioemocionales de los niños. El trabajo de Juliana ha marcado una diferencia inconmensurable en las vidas de los estudiantes, las familias, el personal y los educadores en Nevada, y estamos entusiasmados con esta oportunidad de expandir su influencia e impacto positivos”. El Programa Nacional de Maestro del Año está patrocinado por Curriculum Associates, ETS, Google for Education, NWEA, Pearson, Verizon Business, and Voya Financial. Los finalistas para el Maestro Nacional del Año 2021 son John Arthur (Utah), Alejandro Diasgranados (Distrito de Columbia) y Maureen Stover (Carolina del Norte). Se puede leer más sobre los finalistas aquí . Obtenga más información sobre Juliana Urtubey (HOO-lee-on-a ER-two-bay), incluidas su biografía y fotos, en www.ntoy.org . El Consejo de principales oficiales escolares de los estados (CCSSO) es una organización no partidista, nacional, sin fines de lucro, de oficiales públicos que dirigen departamentos de educación primaria y secundaria en los estados, el Distrito de Columbia, el Actividad Educativa del Departamento de Defensa, la Oficina de Educación Indígena, y cinco jurisdicciones no estatales. CCSSO produce liderazgo, defensa y asistencia técnica sobre los principales asuntos educativos. El Consejo busca el consenso de los miembros sobre los principales asuntos educativos y expresa sus puntos de vista a las organizaciones cívicas y profesionales, las agencias federales, el Congreso y el público. The Global Semiconductor Memory Market stood at USD110.30 billion in 2020 and is forecast to grow at a CAGR of over 7.02% by 2026 due to rising memory requirements in the gaming, automobile, healthcare and telecommunication sectors. The growth in the market can be attributed to new technological advancements in portable memory-based electronics in the forecast years. The Global Semiconductor Memory Market can be bifurcated into type, volatile type, non-volatile type, application and region. On the basis of type, the market can be segmented as volatile and non-volatile, where the non-volatile segment held market share of 50.61% in 2020, due to its function in the permanent storage of the computer hardware. In terms of volatile type, the market is segmented into DRAM, SRAM, SDRAM and MRAM where the market share of DRAM was 35.34% due to its high storage capacity. In terms of non-volatile type, the market is segmented into PROM, EPROM, EEPROM and Flash Memory where the market share of PROM was 35.23% in 2020, due to the increased demand for BIOS and firmware in the computer hardware. The semiconductor memory market, on the basis of application, can be segmented into Consumer Electronics, IT & Telecommunications, Automotive, Medical Devices, Aerospace & Defence and others (Industrial, Smart Cards, Mp3 Players, etc.). The consumer electronics sector held market share of 30.54% in 2020, which in turn is expected to enhance the market growth over the forecast period. This growth is due to the increasing proliferation of electronics with the need for associated storage in the devices. Major players leading the Global Semiconductor Memory Market are Samsung Electronics Co., Ltd., Taiwan Semiconductor Manufacturing Company Limited, Micron Technology Inc., SK Hynix Inc., Intel Corporation, Broadcom Inc., Qualcomm Inc., Toshiba Corporation, Texas Instruments Inc., and Nvidia Corporation, etc. The largest contributor to the Global Semiconductor Memory Market is Asia-Pacific with 35.56% market share in 2020. South Korea is the largest contributing country in the region with 32.25% shares, followed by China, India, Taiwan and Japan. The ongoing technological advancements and innovations for microcomputer-based systems are expected to fuel the Global Semiconductor Memory Market over the forecast years. Years considered for this report: Historical Years: 2016-2019 Objective of the Study: To analyze the historical growth in the market size of the Global Semiconductor Memory Market from 2016 to 2020. To estimate and forecast the market size of the Global Semiconductor Memory Market from 2021 to 2026 and growth rate until 2026. To classify and forecast the Global Semiconductor Memory Market based on type, volatile type, non-volatile type, application, company and regional distribution. To analyze and forecast the market size, in terms of type which are volatile and non-volatile. To analyze and forecast the market size, in terms of volatile type which are DRAM, SRAM, SDRAM and MRAM. To analyze and forecast the market size, in terms of non-volatile type which are PROM, EPROM, EEPROM and Flash Memory. To analyze and forecast the market size, in terms of application which are Consumer Electronics, IT & Telecommunications, Automotive, Medical Devices, Aerospace & Defence, Industrial, Smart Cards, Mp3 Players, etc. To categorize and forecast the Global Semiconductor Memory Market by region such as Asia-Pacific, North America, Europe, South America and Middle East & Africa. To identify major drivers and challenges for the Global Semiconductor Memory Market. To identify major trends in the Global Semiconductor Memory Market. To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Global Semiconductor Memory Market. To conduct pricing analysis for the Global Semiconductor Memory Market. To identify and analyze the profile of companies operating in the global semiconductor memory market. Key Topics Covered:
Goldman Sachs Urban Investment Team
1 Team Member
Goldman Sachs Urban Investment has 1 team member, including former Managing Director, Kevin Jordan.