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  • New Jersey property is the firm’s second

Avanath Capital Management expands East Coast footprint; acquires 270+ housing units

EDISON, NJ and FORT LAUDERDALE, FL — Avanath Capital Management, LLC has acquired two affordable multifamily properties totaling 273 units for a combined total of $29.36 million. The firm acquired Menlo Manor, a 240-unit affordable senior housing community in New Jersey and Coral Ridge Isles, a 33-unit workforce housing community in Florida. Both properties were acquired through Avanath’s institutional fund, Avanath Affordable Housing III. “We are focused on acquiring and preserving affordable and workforce housing assets in strong growth markets across the country, including areas across the East Coast,” said president of Avanath Capital Management, John Williams. “This is our second acquisition in New Jersey, and our ninth in Florida. Earlier this year, we acquired Centennial Court, a 101-unit senior apartment community in Wharton, which brings our holdings in the New Jersey/New York metro area to a total of 1,045 units. We also currently own a total 1,647 units in Florida.”

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