Sunday, April 15, 2018

Avanath Capital Management Acquires 300+ Affordable Housing Units in New Jersey and Maryland

Vistas at Lake Largo, Upper Marlboro, Maryland
John R. Williams

WHARTON, NJ – Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has acquired three multifamily properties totaling 311 units for a combined consideration of $38.08 million.
The firm acquired Largo Center, a 100-unit family housing community for $14.3 million and Vistas at Lake Largo, a 110-unit senior housing community for $15.03 million, both in Upper Marlboro, Maryland.
Avanath Capital also acquired Centennial Court, a 101-unit senior living complex for $8.75 million in Wharton, New Jersey. This is the firm’s first acquisition in New Jersey.
These acquisitions were purchased through Avanath’s institutional fund, Avanath Affordable Housing III.

Daryl J. Carter
“While much of the multifamily market still caters to luxury housing, targeting annual incomes of $100,000 plus, the average American’s annual income is between $35,000 - $80,000. This presents a deficit of affordable housing options for the largest group of renters in the United States,” says John Williams, President and Chief Investment Officer of Avanath.
 “Our focus is to invest in markets with a need for affordable housing to fill this deficit, ultimately serving the needs of the largest cohort of renters in our nation.”
 Founded by Daryl J. Carter, the Avanath management team averages 25 years of experience and has successfully guided investment funds in defining growth opportunities and delivering attractive returns..

For more information, please contact:

Lindsay Mackay/Lexi Astfalk
(949) 955-7940

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