The City of Boston has established a public-private partnership to purchase a 207-unit apartment building in Mattapan in an effort to keep the units affordable for low- and moderate-income residents. Mayor Martin Walsh announced the city’s contribution of $4 million toward the purchase of the Morton Village Apartments, located near Morton Street station on the […]
Category: Front Page News
Avanath Capital Acquires 207-Unit Workforce Housing Community in Boston
Private real estate firm Avanath Capital Management has acquired Morton Village, a 207-unit workforce housing community in Boston’s Mattapan neighborhood. The acquisition represents Avanath’s first purchase in the Boston market. Built in 1965 by the seller, an affiliate of Mirak Properties, Morton Village consists of four separate four-story elevatored buildings located adjacent to the Morton […]
Avanath Capital Management enters Boston Market
Avanath Capital Management has acquired Morton Village, a 207-unit workforce housing community in the Boston area, from an affiliate of Mirak Properties. The acquisition represents Avanath’s first purchase in the Boston market, according to Daryl Carter, founder and CEO of Avanath Capital Management. […]
Avanath Acquires Boston Workforce Housing
Real estate firm Avanath Capital Management has acquired Morton Village Apartments, a 207-unit workforce housing community in the Boston borough of Mattapan, Mass. The seller is an affiliate of Mirak Properties. This represents Avanath’s initial foray into the Boston market. […]
Boston Mayor Walsh Announces Acquisition of 207 Affordable Rental Units in Mattapan to Protect Residents From Displacement
Boston Mayor Martin J. Walsh, Avanath Capital Management, LLC., Mirak Properties and CBRE Capital Markets announced the purchase of 207 rental units at the Morton Village Apartments in Mattapan, adjacent to the Morton Street station on the MBTA Fairmount Line. The acquisition of this property by Avanath will ensure that more than 200 low- and […]
Avanath Capital Management acquires 207-unit workforce housing community in Boston, Massachusetts
Avanath Capital Management, a private real estate firm that invests in affordable and workforce housing properties throughout the U.S., has announced the acquisition of Morton Village, a 207-unit workforce housing community in Mattapan, Massachusetts, from an affiliate of Mirak Properties. The acquisition represents Avanath’s first purchase in the Boston market, according to Daryl Carter, Founder […]
Wellness is Crucial for Operational Success
An undeniable concern for seniors housing stakeholders is keeping residents at their properties healthy and well. While the seniors housing industry has addressed health and wellness since long before COVID-19, the pandemic has intensified our focus on this issue. As we move through this crisis, many industry professionals have deepened their commitment to health and wellness in […]
Avanath Makes Two Buys in CEO’s Detroit Hometown
Irvine, CA-based Avanath Capital Management acquired a pair of apartment communities in Detroit in two separate deals totaling approximately $3.4 million. They include the 50-unit, affordable North End Village, which Avanath picked up for $2.1 million, and the 48-unit Cameron Court seniors housing community, which went for $1.34 million. […]
Affordable Housing Model Holds Through Downturn
Affordable housing has historically outperformed other asset classes during economic downturns. The pandemic-fueled recession has been no different. This is welcome news as many experts were uncertain about the stability of the affordable housing niche because this recession has uniquely impacted the service sector. However, through the pandemic, occupancy, rent collections and asset valuation has […]
Avanath Capital Management Acquires Three Communities
Avanath Capital Management has acquired three affordable housing developments, adding 290 units to its existing portfolio of more than 10,000 units across the nation. The latest acquisitions involve two communities in Detroit and another in Orange City, Florida. […]