Avanath adds $205m to affordable housing fund
Real Estate - JANUARY 27, 2023

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Avanath adds $205m to affordable housing fund

by Kali Persall

Avanath Capital Management, a multifamily owner and operator that primarily focuses on affordable housing, has closed on more than $205 million in additional equity commitments for its Avanath Affordable Housing Renaissance Fund since November 2022.

This is Avanath’s sole investment vehicle dedicated to affordable and workforce housing. The open-ended vehicle held its initial closing in March 2022, which included $536 million in equity commitments used to seed the vehicle with an institutional-quality, affordable-housing portfolio.

“Avanath remains committed to advancing its mission of delivering quality affordable and workforce housing, and this perpetual-life vehicle has positioned us to continually and effectively invest in both our communities and residents,” said Daryl Carter, chairman and CEO of Avanath. “As we navigate a period of economic uncertainty, rent-regulated housing is increasingly essential to the ability of residents to live comfortably and th

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