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New York & Tri-State  + New Jersey  + Apartments  | 

Avanath Capital Expands East Coast Footprint

Avanath Capital Management, LLC acquired two affordable multifamily properties totaling 273 units for $29.36 million. The assets include Menlo Manor (pictured), 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,” says Avanath Capital Management’s John Williams. “This is our second acquisition in New Jersey, and our ninth in Florida.”

Menlo Manor is a five-story affordable apartment community for seniors in Edison, NJ. The property is located at 161 Inman Ave. and is comprised of a mix of studios, one, and two-bedroom units. The seller, Jeff Spragens, was represented by CBRE’s Alex Medeiros.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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