ALEXANDRIA, VA and ORLANDO, FL — Avanath Capital Management, LLC, a private real estate investment manager and Registered Investment Adviser, has purchased two affordable apartment communities with a combined total of 578 units in Alexandria, VA – a city in the Washington D.C. Metro area – and Orlando, FL. The assets were acquired for a combined total of $99.175 million, according to John Williams, president and CIO of Avanath Capital Management.
“Both the Washington D.C. Metro and Orlando markets align well with Avanath’s investment strategy of targeting markets with strong economic, job, and population growth where home affordability is becoming increasing more difficult and market-rate rents continue to rise,” said Williams. “These are some of the nation’s most cost-burdened markets with a demonstrated demand for affordable housing properties. They present opportunities for our firm to invest in properties where we can preserve affordability for residents and produce steady returns for our investors.”