Avenue Living Hits 10,000 Multi-Family Doors with Milestone Acquisition
With the closing of our most recent acquisition, Hays Farm in Calgary, AB, Avenue Living has achieved another major milestone this November – 10,000 multi-family doors owned and operated.
Not only is it the largest multi-family transaction in Calgary, to date, with over 8 acres and 228 units added to our portfolio but also taking us over the 10,000-door mark. It is through our strategic approach and the efforts of our team that we continue to see high levels of success.
Over the last 14 years, we have continued to acquire properties in 19 markets across western Canada, and recently expanding into the U.S. with a property in Colorado Springs, CO. The company’s assets under management have increased by almost $500 million over the last year, thanks to strategic decision-making that has withstood the effects of the COVID-19 pandemic.
From our fundamental 24 doors in 2006, we have seen a steady increase in the number of units owned and operated. Since 2017, Avenue Living has pursued an aggressive growth strategy averaging 16% year over year growth.
During the initial years, we experienced fast and furious growth to develop our Core Trust with a focus on western Canadian multi-family properties. Since then, we have been able to replicate that success into self-storage facilities, Canadian prairie agricultural land, U.S. multi-family properties and commercial assets.
Our company continuously benefits from our vertically integrated platform, which gives us access to in-house experts within investments, legal, strategic and creative services, information technology, asset management, people and culture, accounting, and more. We can truly make the most of our acquisitions and bring value not just to our investors, but to the residents and communities in which we operate.
With a tremendous Q3 behind us and additional, humble milestones in our future, we are looking forward to 2021 and beyond.
“At Avenue Living, success is not just measured by growth in our asset base, it is measured by how accretive and strategic that growth is. Our recent acquisition in Calgary is our continued commitment to investing in the everyday to create sustainable value,” said Jason Jogia, CIO of Avenue Living.