Avanath Capital Management spent $22.5M for the Logo Apartments in Roxbury, including 73 units across 11 buildings. The portfolio was previously owned by Affirmative Housing and also includes a supermarket, a design studio and two cell tower leases with T-Mobile.
Press releases & articles - November 2021
Avanath Capital Management has expanded its reach in the Boston area with the acquisition of Logo Apartments, an affordable housing portfolio involving five different sites totaling 11 buildings and 73 units across Roxbury.
Although the basic concept of ESG seems warm and fuzzy, it’s also now guiding the flow of tons of capital into multifamily real estate development. In its “2020 Impact Bonds Report,” Freddie Mac revealed that it poured $3.3 billion into a “Green” workforce housing bucket, $877 million into a “Social” affordable housing bucket, and $971 million into “Sustainability” affordable housing bucket.
While much of President Joe Biden’s housing agenda is within the proposed $1.75 trillion Build Back Better bill working its way through Congress, members of the multifamily and commercial real estate industry still found plenty to like in the $1.2 trillion bipartisan infrastructure package approved late last week.
There’s plenty of capital to go around for large-scale apartment builders. But small-time investors could use a shot in the arm, too, says one of the bigger players, if only to help the entire business deal with the heat it is taking because of the increase in evictions.
Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has expanded its reach in the Boston area with the acquisition of Logo Apartments, an affordable housing portfolio in Roxbury, Massachusetts. The portfolio includes five different sites totaling 11-buildings and 73-units across Roxbury.
There’s no slowdown in sight for California’s housing prices, and multifamily investors are seeing gains as a result. Demand from renters, particularly millennials not willing, or able, to invest in a single-family home, is bolstering a need for the development of more apartments, from affordable housing projects to higher-end units.
The pandemic that has plagued the US and the world since March 2020 has had an impact on every business and all types of commercial and residential real estate. Although 2020 started off promising, the COVID-19 pandemic caused several commercial real estate sectors, including retail and hospitality, to swerve off course beginning in the spring. As of mid-2021, those sectors are still struggling to recover as the crisis wanes and the economy regains its footing.
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