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Avanath Capital Closes Funds Totaling $388M
Irvine, CA-based Avanath Capital Management, LLC closed two funds, Avanath Affordable Housing III and Avanath III NY Co-Investment, with $388 million in equity commitments. Avanath’s Funds are comprised of a total of 19 investors, including three pension funds, three foundations, four U.S. companies, four U.S. banks, four U.S. family offices and one European family office.
Avanath’s John R. Williams says, “Combined, the funds are one of the largest affordable housing funds in the country, enabling us to further our investment strategy of acquiring and preserving affordable housing assets in supply-constrained markets with high barriers to entry that are poised for strong job, income and economic growth.”
To date, Avanath Capital Management has acquired nine assets totaling $123 million under the funds, and has an additional four assets under contract, with closings scheduled over the next several months.
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