Ingka Investments, the investment arm of Ingka Group, announces a $50 million investment in The Vistria Group’s real estate housing strategy, which focuses on preserving, improving, and developing affordable housing across the United States. The initiative supports low- and middle-income families while expanding Ingka’s Alternative Investments portfolio, according to Ingka Investments.

Vistria, a private investment firm with offices in Chicago, New York, and Dallas, launched its real estate strategy in 2023. The strategy includes investments in more than 6,400 housing units across the U.S. and has a total asset portfolio of over $2 billion. Vistria focuses on affordable, workforce, and mixed-income housing projects and recently completed one of California’s largest market-rate to affordable housing conversions.

Vistria’s recent projects include the transformation of 697 market-rate apartments into affordable housing in San Mateo County, California, one of the wealthiest regions in the U.S. The Hillsdale Garden Apartments conversion aims to provide long-term affordability for households earning up to 80% of the area median income. The project also includes significant capital improvements and resident services such as after-school programs and skill-building classes.

In Dallas, Vistria partnered with Waterford Property Company to acquire Axis at Kessler Park, a 299-unit mixed-income housing development. The $67 million deal includes a long-term ground lease with the Dallas Housing Finance Corporation, ensuring rent restrictions for new qualified residents. Similar to their California project, this initiative integrates private investment with public support to create sustainable affordable housing solutions.

In January 2025, Vistria completed the final closing of its largest private equity fund, Vistria Fund V, with $3 billion in total capital commitments. This milestone increased Vistria’s total assets under management to nearly $16 billion across its funds and co-investment vehicles, more than doubling its AUM in just over three years.

The firm integrates economic goals with social impact by working with local organizations to offer community programs such as workforce development, education support, and health services. This approach aims to enhance economic mobility and improve residents' quality of life.

Margaret Anadu, Senior Partner and Head of Real Estate at The Vistria Group, emphasized the importance of partnerships in addressing the housing crisis. "Addressing the affordable housing crisis at scale is not possible without partnering with organizations like Ingka to invest in scalable and efficient models to improve, preserve, and produce affordable and workforce housing," she said.