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| John R. Williams |
BROOKLYN, NY - Avanath
Capital Management, LLC
, a private real estate investment manager, has acquired a multifamily
portfolio encompassing four rent-stabilized apartment buildings in Brooklyn, New
York in an off market transaction. The properties were acquired in joint
partnership with Oak Tree Management for a total of $60 million.
The four-asset portfolio
was purchased through Avanath Affordable Housing II, LLC, a fund with $200
million of equity commitments.
"Brooklyn is a market
with unbridled investment potential," says John Williams,
President and CIO of Avanath Capital Management. "Based on high growth throughout the
region, rising market rents, and strong employment hubs both in Brooklyn and
the surrounding boroughs, this acquisition is positioned to deliver
strong risk-adjusted returns for our investors."
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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