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Chicago & Midwest  + Midwest  + Senior Housing  | 

Avanath Makes Two Buys in CEO’s Detroit Hometown

Irvine, CA-based Avanath Capital Management acquired a pair of apartment communities in Detroit in two separate deals totaling approximately $3.4 million. They include the 50-unit, affordable North End Village, which Avanath picked up for $2.1 million, and the 48-unit Cameron Court seniors housing community, which went for $1.34 million.

“As a native of Detroit, I’m excited to invest in my hometown – in fact, this property is not too far from my high school,” said Avanath CEO Daryl Carter regarding North End Village. “There has been a noticeable revitalization in the city of Detroit in recent years, spurred on by investment activity, new developments and other social programs.”

Built in 2005, North End Village is 100% occupied and consists of four two-story structures totaling 56,238 square feet. Cameron Court was built in 2008 and is also 100% occupied. Avanath plans improvements to both properties.

For comments, questions or concerns, please contact Paul Bubny

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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 16-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 7-10 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 GlobeSt.com 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).

  • ◦Sale/Acquisition
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