An undeniable concern for seniors housing stakeholders is keeping residents at their properties healthy and well. While the seniors housing industry has addressed health and wellness since long before COVID-19, the pandemic has intensified our focus on this issue. As we move through this crisis, many industry professionals have deepened their commitment to health and wellness in a variety of ways. To that end, we will see myriad new amenities at seniors housing communities that are aimed at promoting a healthy lifestyle.
Press releases & articles - October 2020
Irvine, CA-based Avanath Capital Management acquired a pair of apartment communities in Detroit in two separate deals totaling approximately $3.4 million. They include the 50-unit, affordable North End Village, which Avanath picked up for $2.1 million, and the 48-unit Cameron Court seniors housing community, which went for $1.34 million.
Affordable housing has historically outperformed other asset classes during economic downturns. The pandemic-fueled recession has been no different. This is welcome news as many experts were uncertain about the stability of the affordable housing niche because this recession has uniquely impacted the service sector. However, through the pandemic, occupancy, rent collections and asset valuation has all remained stable.
Avanath Capital Management has acquired three affordable housing developments, adding 290 units to its existing portfolio of more than 10,000 units across the nation. The latest acquisitions involve two communities in Detroit and another in Orange City, Florida.
Avanath Capital Management has acquired North End Village and Cameron Court, two affordable housing properties in Detroit. Avanath purchased the 50-unit North End Village for $2.1 million. Built in 2005, the community is fully leased and consists of four two-story buildings. Avanath is planning to make capital improvements such as LED lighting, landscaping, exterior paint, balcony repairs and parking repairs.
The economy may have already started the upward path to recovery in the third quarter. After a devastating second quarter, there was an uptick in commercial real estate activity in the third quarter and a notable improvement in economic fundamentals. All of this suggests that the recovery has begun.
Avanath Capital Management has acquired three affordable housing communities: two in Detroit and one in Orange City, Fla., which is near Orlando. The three properties add a total of 290 units to Avanath’s existing portfolio of more than 10,000 units across the nation.
Avanath Capital Management, a private real estate firm that invests in affordable and workforce housing properties throughout the U.S. on behalf of institutional investors, has announced the acquisition of three affordable housing communities: two in Detroit, Michigan, and one in Orange City, Florida, which is near Orlando. The three properties add a total of 290 units to Avanath’s existing portfolio of more than 10,000 units across the nation.