Press releases & articles - January 2021

Avanath Closes Fourth Discretionary Fund for Affordable and Workforce Housing
Multifamily Executive

Avanath Capital Management has announced the final close of its fourth discretionary fund totaling $760 million in equity commitments, above the original target of $550 million. The fund is an investment vehicle dedicated to affordable and workforce housing, with an emphasis on underserved markets. It will target assets in supply-constrained markets with high barriers to entry that are poised for strong job, income, and economic growth.

 

Q&A: John Williams on increased foreign appetite for U.S. affordable housing
Institutional Real Estate, Inc.

John Williams is the president and CIO of Avanath Capital Management, an investment firm that acquires, owns, renovates and operates affordable, workforce and value-oriented apartment communities across the United States.

Williams discusses the drivers behind increased foreign capital flowing to the U.S. affordable housing sector — particularly amid the COVID-19 pandemic — and what this means for institutional investors.

Avanath raises $760m for fourth US affordable housing fund
Private Equity Insights

Avanath Capital Management, LLC announced the final close of its fourth discretionary fund with a total of $760 million in equity commitments. That figure is significantly above the fund’s original commitment target of $550 million.

Avanath’s Daryl Carter says, “Our focus has always been on preserving affordability in underserved markets across the country. As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color.”

The fund will target affordable/workforce housing assets in supply-constrained markets with high barriers to entry that are poised for strong job, income, and economic growth. Avanath has acquired or has under control 16 assets (3,234 units) within the fund totaling $387 million in investment equity.

Avanath’s John R. Williams notes more than 50% of the capital raised came from European and UK investors and more than 40% of the fund was raised throughout the pandemic.

Breaking Ground: Daryl Carter, Founder, Chairman and CEO of Avanath Capital Management
Tax Credit Advisor

Daryl Carter grew up in Detroit, the son of a factory worker and a maid who fled the South after World War II to seek a better life. They instilled a strong work ethic in their son and encouraged him to pursue the best possible education. Carter did just that, earning a bachelor’s degree in architecture from the University of Michigan and two master’s degrees from MIT, one in business and the other in architecture. From these humble beginnings, Carter embarked on a professional career that has lasted 40 years and brought investment capital and prosperity back to America’s neglected urban neighborhoods.

Avanath Closes Fund Following $760M Raise, Orange County
Gillian Executive Research

Irvine-based Avanath Capital Management, LLC announced the final close of its fourth discretionary fund with a total of $760 million in equity commitments. That figure is significantly above the fund’s original commitment target of $550 million. Avanath’s Daryl Carter says, “Our focus has always been on preserving affordability in underserved markets across the country. As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color.”

Avanath Closes Fund Following $760M Raise
Connect Media

Irvine-based Avanath Capital Management, LLC announced the final close of its fourth discretionary fund with a total of $760 million in equity commitments. That figure is significantly above the fund’s original commitment target of $550 million.

Avanath’s Daryl Carter says, “Our focus has always been on preserving affordability in underserved markets across the country. As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color.”

The fund will target affordable/workforce housing assets in supply-constrained markets with high barriers to entry that are poised for strong job, income, and economic growth. Avanath has acquired or has under control 16 assets (3,234 units) within the fund totaling $387 million in investment equity.

Avanath raises $760m for fourth US affordable housing fund
IPE Real Assets

Avanath Capital Management has raised $760m (€615m) for its fourth US affordable and workforce housing fund.

The private real estate investment manager said the amount raised at final close for its fourth discretionary fund exceeded the fund’s original $550m fundraising target.

The manager said the fund was backed by a number of institutional investors including US pension funds, foundations, corporations, banks, family offices, UK foundations and family offices and European pension funds.

John R Williams, president and CIO at Avanath, said more than 50% of the capital in the fund is from European and UK investors and more than 40% of the fund was raised throughout the pandemic.

Avanath Capital Management Closes Fourth Fund with $760 Mil in Equity Commitments
RENTV

Avanath Capital Management LLC has closed its fourth discretionary fund with a total of $760 mil in equity commitments, which is significantly above the fund’s original commitment target of $550 mil. The fund will target affordable/workforce housing assets in supply-constrained markets with high barriers to entry that are poised for strong job, income, and economic growth.

“Our focus has always been on preserving affordability in underserved markets across the country,” explains Daryl Carter, Avanath’s Founder, Chairman and CEO. “As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color. In fact, our entire Avanath team is extremely diverse, which we believe allows us to better serve residents and our investors.”

Avanath Capital Management closes fourth discretionary fund at $760m
IREI, Inc

Avanath Capital Management has completed a final close of its fourth discretionary fund with $760 million in equity commitments, surpassing its target of $550 million.

The fund targets affordable and workforce housing in supply-constrained markets in the United States, with an emphasis on underserved markets.

“Our focus has always been on preserving affordability in underserved markets across the country,” said Daryl Carter, founder, chairman and CEO of Avanath. “As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color.”

Media inquiries

Brower Group

Lexi Astfalk

949.438.6262
lastfalk@brower-group.com media@avanath.com

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