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California  + Bay Area  + Senior Housing  | 
Avanath Capital Management acquired Rivers Senior, its 13th multifamily acquisition in the Sacramento area

Avanath Makes 13th Sacramento Acquisition with Off-Market Deal

Avanath Capital Management LLC, a multifamily owner and operator that primarily focuses on affordable and workforce housing, acquired Rivers Senior, a 120-unit affordable senior housing community located in West Sacramento, for $19 million. The property, Avanath’s 13th in the Sacramento area, was acquired off-market from a seller with whom Avanath has completed numerous deals. 

“Affordability is seen as Sacramento’s biggest housing-market challenge,” said Daryl Carter, Avanath’s founder, chairman and CEO. “Given the current dynamics of rising market-rate rents, elevated cost of living, and inflation, this transaction is especially significant and comes at a critical time.” 

Constructed in 2008, Rivers Senior is 98% occupied. Avanath will manage the property internally and plans to implement several capital improvements at the property, including replacing the roofs and boilers. The firm will also incorporate ESG principles consistent with its mission, including upgrading the property with LED lighting and completing additional energy-saving projects. 


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).