Friday, January 9, 2015

Avanath Capital Management Announces Acquisition of Eight Affordable Housing Communities in 2014


Daryl J. Carter
IRVINE, CA – Avanath Capital Management, LLC, a private real estate investment manager, has announced the company closed eight affordable housing acquisitions totaling more than 1,700 units in 2014, making the firm one of the largest purchasers of affordable assets in the calendar year, according to Daryl Carter, Founder, Chairman and CEO of Avanath Capital Management, LLC, and this year’s Chairman of the National Multi Housing Council.

The eight assets were purchased through Avanath Affordable Housing II, LLC, a fund with $200 million of equity commitments.

“In 2015, we intend to continue Avanath’s strategy of identifying and acquiring high-quality affordable assets in major employment markets,” explains Carter.

According to John R. Williams, President and CIO of Avanath, “In the current economic environment, the affordable housing sector continues to be one of the few segments of the real estate investment industry with attractive economics, boasting excellent and sustainable risk-adjusted returns with high barriers to entry and strong downside protection.”

John R. Williams
Avanath plans to redevelop and/or reposition the acquired properties, a strategy that will benefit the surrounding communities, according to Williams.

“In addition to the financial benefits, ancillary social benefits can be achieved by investing in real estate in low- to moderate-income neighborhoods and other underserved areas,” explains Williams. 

Avanath specializes in the acquisition and operation of affordable and workforce housing assets nationwide, with a focus on supply-constrained markets.

Specific investment strategies include the acquisition of existing Low Income Housing Tax Credit (LIHTC) portfolios and individual developments located in urban markets throughout the U.S. 

In 2015, Avanath anticipates investing an additional $100 million of equity capital in the acquisition of affordable/workforce housing through the same fund, notes Williams.

At the close of investing Fund II, the firm will have approximately 40 multifamily properties totaling more than 7,000 units under management and ownership.


For a complete copy of the company’s news release and list of properties, please contact:

Amanda Brenner/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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