Avanath, MacFarlane form affordable housing REIT

Real estate investment firms Avanath Capital Management and MacFarlane Partners have plans to form a REIT, which will target investment with a focus on affordable and workforce housing in opportunity zones, according to an SEC filing, dated October 2.

In the filing for the new firm, Aspire Real Estate Investors , said, “We are a newly incorporated Maryland corporation formed to invest in, develop, redevelop and manage a portfolio of primarily affordable and workforce multifamily properties in dynamic U.S. metropolitan areas. We will be the first publicly traded REIT to pursue a strategy focused on affordable and workforce multifamily housing. These sectors historically have been fragmented in ownership and underserved by institutional capital, yet they comprise a majority of the U.S. multifamily market (by units) and offer strong long-term fundamentals to generate attractive returns for investors. Moreover, we