Avanath acquires affordable housing & retail community in Berkeley, Calif.
Avanath Capital Management has acquired Acton Courtyard, a 71-unit mixed-use affordable-housing community with 7,013 square feet of ground-floor retail, located in Berkeley, Calif.
The transaction is Avanath’s ninth acquisition in Northern California and its second in the Oakland MSA.
“Because we have a significant history of investing in Affordable housing communities in Northern California, we have a deep understanding of the market which informs our approach to management,” says John Williams, president and CIO of Avanath Capital Management. “Northern California has continued to demonstrate quality fundamentals and remains a very attractive market. In fact, future job growth in Berkeley over the next 10 years is anticipated to increase by 36.3 percent.”
Avanath focuses its investment activity on markets throughout the country where affordability is low and the housing market is underserved. Home prices in Berkeley and surrounding cities have been