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 […]
Category: Front Page News
Affordable Housing and the Institutional Investor: Q&A
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 […]
Roundtable: Multifamily Investors Discuss What’s Ahead for 2021
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 […]
Operators Pivot to Provide Service-Oriented Amenities
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 […]
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 […]
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
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 […]
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
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 […]
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 […]