All financial figures are in Canadian dollars.
CALGARY, Alta., March 1, 2022 /CNW/ – Calgary-based Avenue Living Asset Managementtoday announced that its Avenue Living Real Estate Core Trust has raised $103 million in equity since December 2021. Starting with an original expansion target offering of $60 millionthe allocation of this proximity to a series of accretive purchases, takes the Canadian alternative asset manager from $3.25 billion to end $3.5 billion of assets under management in just two months.
According to Jason JogiaChief Investment Officer at Avenue Living, “This strong investor interest demonstrates confidence in Avenue Living’s vertically integrated investment platform.”
“We are excited about the timing of this accretive fundraising and what it does for the execution of our continued growth and diversification activities. It is based on a carefully defined consolidation strategy focused on the low and medium density multi-family workforce. apartment real estate assets across the North American Heartland,” says Jogia. “These funds continue to support and accelerate further acquisitions, many of which are already underway in key regions across Canada and United States.”
The Core Trust focuses on multi-family assets and provides institutional-grade services to North America most essential workers. The fund offers investors the opportunity to hold real assets that are uncorrelated to public markets and provides a valuable hedge against inflation.
“Right now, investors are avoiding market volatility,” says Anthony Giuffre, founder and CEO of Avenue Living. “An offering like Core Trust is an ideal way for them to invest in property without actively managing the assets themselves. We are delighted with the response to this capital raise as it will help us refresh our growing pipeline of North American acquisitions, allow us to gain significant market share and provide investors with geographic diversification at a time when housing affordability is in high demand.”
ABOUT LIFE AVENUE
Founded on the principle of investing in everyday life, Avenue Living focuses on opportunities that are often overlooked by others, having grown to more than $3.5 billion in total assets under management in four private real estate investment mandates. The Avenue Living team includes more than 750 professionals with expertise in real estate operations and transactions, property management, research, investment origination and capital markets, as well as a suite of experts in the material to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural and self-storage land. In addition to more than 14,000 multi-family units located in Canada and United StatesAvenue Living and its related entities own over 450,000 square feet of retail space, 48,000 acres of productive farmland and over 2,700,000 square feet of self-storage space.
This commentary and the information it contains are for educational and informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any securities or related financial instruments. This communication may contain forward-looking statements. Readers should refer to the information on our website at www.avenuelivingam.com for more information regarding forward-looking statements and certain risks associated with them.
SOURCE Avenue Living Asset Management
For more information: or to make an appointment with an Avenue Living Asset Management executive, please contact: Wendy Ell, Director Stakeholder Relations at Avenue Living via [email protected]