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Press releases & articles

Daryl Carter Elected to BRIDGE Housing Board
The Registry

Daryl J. Carter has been elected to the Board of Directors of BRIDGE Housing, a leading nonprofit developer, owner and manager of affordable housing.

Mr. Carter is the Founder, Chairman and CEO of Avanath Capital Management, LLC, a California-based investment firm that acquires, renovates and operates apartment properties, with an emphasis on affordable and workforce communities. Since its formation in 2008, Avanath has acquired $3 billion of properties in 13 states in the U.S., comprising 12,000 apartment units.

Affordable Housing and the Institutional Investor: Q&A
Multi-Housing News

While COVID-19 rocked the boat for many commercial real estate sectors,  affordable housing is holding steady. As we move further into 2021, the sector continues to shine brightly and offer significant risk-adjusted investment opportunities for institutional investors. John Williams, president & CIO of Avanath Capital Management, chatted with Multi-Housing News about why the affordable sector appeals to institutional capital, how the industry has fared since the onset of the pandemic and where he sees the future of this asset class as we begin to emerge from this crisis.

Roundtable: Multifamily Investors Discuss What’s Ahead for 2021
Multifamily Executive

While multifamily deal activity hit a pause at the start of the pandemic, transaction volume started to pick back up by the third quarter of 2020 and is expected to see a boost in 2021. According to Newmark’s “Multifamily Capital Markets Report,” multifamily investment sales volume saw a quarter-over-quarter increase of 55.9% in the third quarter, the strongest sequential gain since 2011.

Operators Pivot to Provide Service-Oriented Amenities
Multifamily Executive

The amenities arms race was at a fever pitch at the start of 2020, as each new multifamily property tried to raise the bar of over-the-top enticements to lure prospects to their community. Then the COVID-19 pandemic hit. Now, instead of touting gleaming gyms, demonstration kitchens, and group-focused event spaces, operators have had to pivot to help residents feel “alone together,” without actually bringing them within 6 feet of each other.

Expect Change. It’s the COVID Effect

It has been 12 months since the U.S. began sheltering in place as COVID-19 spread across the country. Now, a year later, there doesn’t appear to be a part of business, society and the economy that this novel coronavirus hasn’t touched.

As these changes linger, it’s easy to wonder what efforts introduced during (or accelerated by) the pandemic will remain for the long term. After a vaccine, will we abandon offices and keep working from home? Will we eschew brick-and-mortar retail for our Amazon app? Will we become more comfortable making significant decisions through virtual interactions?

Why Affordable Housing Investors Are Staying in Top-Tier Metros

Not everyone is fleeing major metros during the pandemic. Remote office workers have largely driven the migration trend into the Sunbelt region. Essential workers, on the other hand, are staying put, helping to fuel strong fundamentals in affordable and workforce housing product. As a result, these housing segments have outperformed market-rate multifamily.

Avanath Capital Purchases Grove Senior Apartments in Garden Grove, California for $19.8M
Seniors Housing Business

Avanath Capital Management has purchased The Grove Senior Apartments, an affordable seniors housing property located at 12721 Garden Grove Blvd. in Garden Grove. Meta Housing sold the asset for $19.8 million.

The Grove, which is currently 100 percent occupied, features 85 units, a fitness center, club room, courtyard and bus stop directly in front of the property. Rents range from $840 to $1,729 per month for units ranging from 542 to 815 square feet.

This Week’s LA Deal Sheet

Avanath Capital Management acquired The Grove Senior Apartments, an 85-unit senior housing community in Garden Grove, for $19.85M. Avanath is headquartered in Irvine, but this is its first acquisition in Orange County. According to Avanath Chairman and CEO Daryl Carter, the apartment complex has remained 100% occupied and maintained collections throughout the coronavirus pandemic.

Real estate news: Irvine investor buys senior apartment complex in Garden Grove for $20 million
OC Register

Irvine-based Avanath Capital Management has made its first hometown acquisition with the $19.85 million purchase of The Grove Senior Apartments in Garden Grove. The property at 12721 Garden Grove Blvd. has 85 apartments and was sold by Meta Housing, an affordable housing developer based in Los Angeles.

“The Orange County market is an extraordinarily affluent area … Home prices throughout the region remain extremely expensive, making homeownership difficult for many,” Daryl Carter, founder, chairman and CEO of Avanath Capital Management, said in a statement. “This has resulted in a strong demand for affordable housing units, especially among seniors.”

Avanath Capital Management Buys 85-Unit OC Senior Housing Community

Avanath Capital Management LLC has purchased The Grove Senior Apartments, an 85-unit senior housing community in Garden Grove, for $19.85 mil, or $233.5k/unit. The property was acquired from Meta Housing, an affordable housing developer based in Los Angeles. The Grove, which is currently 100% occupied, consists of a single, four-story garden-style building that features a variety of amenities including a fitness center, club room, courtyard, and bus stop directly in front of the property.

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