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| John R. Williams |
IRVINE, CA, July 7, 2015 – Avanath Capital Management,
LLC, a private real estate investment manager, has announced the final close
for Avanath Affordable Housing II Fund, having completed its $200 million
capital raise, according to John R.
Williams, President and CIO of Avanath.
Avanath specializes in the acquisition and operation of
affordable and workforce housing assets nationwide, with a focus on
supply-constrained markets.
According to Williams, the fund is comprised of 10
investors, including three state pension funds, two banks, three insurance
companies, one foundation and one family office.
“Six of our 10 investors are repeat investors, which
speaks to the strength of our first fund,” explains Williams. “We are also
gratified that our fund has appeal across such a broad spectrum of investor
types.
“With anticipated returns at 13 to 15 percent net to
investors, we and all of our investors
are focused on bottom-line profitability.
" In addition, the breadth of financial organizations involved in our
second fund also shows support for the value of the social benefits we provide. In the communities surrounding our
investments, we are raising the bar for the quality of affordable housing in
areas where it is most needed.”
For a complete
copy of the company’s news release, please contact:
Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940
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