The senior housing industry may have begun preparing for the onslaught of baby boomer demand too early, and some developers now appear to be shifting their strategy.
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HONORABLE MENTION. EXECUTIVE OF THE YEAR. DARYL CARTER Founder, Chairman and CEO, Avanath Capital Management. Workforce Housing Leader:
The declining affordability of housing has become a worsening problem in many areas throughout the country, and Texas is no exception.
Avanath Capital Management – Keith Harris has joined the real estate investment manager as executive vice president of acquisitions.
Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has added Keith Harris as the firm’s new executive vice president of acquisitions.
A still-novel tax code provision promises plenty of opportunities: Investors get an opportunity for tax savings. Communities get an opportunity for development of neglected or on-the-cusp areas. Real estate developers get an opportunity to access new capital, notably capital with a long-term investment horizon.
“I think you’re going to start to see more capital come in,” (Avanath Capital CEO and founder Daryl) Carter said. “A lot of investors we’ve spoken with wanted to make sure the final regs were consistent. Clarity is so important.”
For the past several months, after the launch of his opportunity zone fund, Avanath Capital CEO and founder Daryl Carter had approached investors to invest in his project, only to hear a common word: “Wait.”
The Irvine-based company acquired 15 assets for about $600m this year and expects to complete a similar number of transactions in 2020.
Avanath Affordable Housing IV LLC purchased the 220-unit affordable housing complex Fox Crossing at 8350 E. Yale Ave. in Denver for $34.25 million from California-based Legacy Partners. Dan Woodward, David Potarf, Matt Barnett, Spencer Hurst, Tim Flint and Taylor Froland represented the seller.