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California  + Finance  | 

Avanath, UBS Recapitalize $248M Affordable Housing Portfolio

Irvine, CA-based Avanath Capital Management, LLC completed a strategic recapitalization of a portfolio of affordable multifamily assets formerly held by Avanath Affordable Housing I, LLC, Avanath’s inaugural fund. The Elevate Portfolio, of which 65% is in highly desirable submarkets in California and Florida, was transferred to the new Avanath/UBS-AM vehicle at an aggregate value of roughly $248 million.

Interests in the Elevate Portfolio, which includes 2,085 units across 14 multifamily communities in high-barrier-to-entry markets nationwide, were sold to a group of institutional investors advised by UBS Asset Management, Real Estate & Private Markets’ (REPM) Multi-Managers business.

REPM’s David Kozlicki says, “The Elevate Portfolio provides REPM MM rare access to a fully stabilized and diversified portfolio of affordable housing assets, offering our clients strong risk-adjusted total returns with highly durable cash flow.”

Avanath will manage the assets and continue to provide high-quality housing options to an underserved segment of the population.

*Pictured Rancho Carrillo Apartments in Carlsbad, CA

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.

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