Calgary-based Avenue Living reaches 15,000 multifamily units under its management in the heart of North America.Canadian Business Journal

CALGARY, Alberta, October 13, 2022 (GLOBE NEWSWIRE) — All financial figures are in US dollars

Calgary-based Avenue Living reaches milestone of 15,000 multifamily units owned across 23 North American neighborhoods following its recent acquisition of 386 units worth $52 million in Columbus, Georgia I am pleased to announce that

The acquisition builds on Avenue Living’s 16-year proven integration strategy focused on low- to medium-density employee housing in key markets. The company continues to target medium growth markets with a diverse economic base and low institutional penetration.

“Since entering the multi-family space in 2006, we have focused on creating an operating model that puts the needs of our residents first,” said Anthony Giuffre, Founder and CEO of Avenue Living. said. “Our experience shows that these needs transcend geography, offering opportunities to scale our defensible model across key locations in Canada and the United States.”

Avenue Living has a proven track record of instantly increasing building value and increasing resident satisfaction. “We are actively implementing service and technology improvements in areas such as security, gadget technology, fintech and capex,” he says. “Through our innovative solutions and operations-first approach, we have strengthened our reputation and investor confidence. We are seeing an increase in word-of-mouth referrals and consistently increasing our Net Promoter Scores. is a strong feature of the rental industry as it represents 365 days of superior service rather than one simple transaction.”

Avenue Living continues to enjoy strong tailwinds in the employee housing rental market and will use these conditions to consistently deliver best-in-class customer service to residents, earning 97.5% across all North American units. % occupancy and above average retention. This established service framework will enable Avenue Living to deliver a consistent experience across new markets and support its expansion strategy through a vertically integrated operating platform.

Jason Jogia, chief investment officer at Avenue Living, said: “We understand local market conditions, local industries and job opportunities, the level of demand, and of course the potential of each acquired property.”

As one of the largest consolidators of workforce housing across North America, Avenue Living’s latest milestone of 15,000 multifamily units has catapulted the company to the top of the Canadian real estate industry. Since its launch in 2021, the organization has increased its unit count by 46% and acquired over 4,800 multifamily units.

About Avenue Living 

Founded on the principle of investing every day, Avenue Living focuses on opportunities others overlook, growing to C$4.1 billion in assets under management across four private real estate investment mandates Did. The Avenue Living team includes more than 900 professionals with expertise in real estate operations and transactions, asset management, research, investment structuring, and capital markets, along with an array of professionals that support Avenue Living’s growing portfolio of multifamily homes. Includes subject matter experts. Commercial land, agricultural land, and self-storage assets. In addition to 15,000 multifamily homes in Canada and the United States, Avenue Living and its affiliates own over 496,500 square feet of commercial space, over 82,900 acres of production farmland, and over 4.6 million square feet of self-storage space. doing. .

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any security or related financial instrument. This article may contain forward-looking statements. Readers should refer to the information contained on his website at: www.avenuelivingam.com Additional information regarding forward-looking statements and the specific risks associated with them is available here. 

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