The Reading (and Listening) List: Our Favourite Books and Podcasts of 2022

Across the board, the team at Avenue Living is a curious bunch. Whether we’re catching up on industry insights, going deeper into a contemporary news story or historical event, or delving into the human condition through classic or modern literature, we’re always learning. Below, we’ve rounded up some of our team’s favourite books and podcasts from 2022.

Marius Botha, VP Fund Operations 

“The Richest Man in Babylon by George Samuel Clason. It’s about a man in the third century who rises from poverty to become the richest man in Babylon. It’s all about finance and wealth planning, and there’s something for everyone to take away.” 

Alexandra Larsen, Marketing Director 

“I’m reading Fair Play: A Game-Changing Solution for When You Have Too Much to Do (and More Life to Live) by Eve Rodsky, which was recommended by several professional women I admire. Fair Play is about balancing the distribution of work, both paid and unpaid, for couples. Having just come back from maternity leave, I was interested to see what tips and tricks my husband, and I could pick up as working parents. I also recently finished The Storyteller by Dave Grohl, an autobiographical read about his life from scrappy backup drummer to Foo Fighters frontman, I really enjoyed learning about his life on the road, especially the Nirvana years.” 

Cameron Hills, VP, Capital Markets – Equity 

“Let My People Go Surfing: The Education of a Reluctant Businessman an autobiography by Yvon Chouinard, the founder of Patagonia. It explores his life experiences and philosophies that inspired his innovation as an entrepreneur. There’s something for everyone in this book.”

Janelle Donohue, SVP – Strategic Risk Management and Senior Legal Counsel 

“This year I read Harry Potter and the Half-Blood Prince by J.K. Rowling, several stories in the Dragon Masters series by Tracey West, The Book with No Pictures by B.J. Novak, The Elephant and Piggie books by Mo Willems; and I Survived the Shark Attacks of 1916 by Lauren Tarshis. In my defense, these aren’t my interests—I read these ones with my three kids! I’m also reading a cookbook called Real Food Kids Will Love by Annabel Karmel.” 

Max Graham, Chief Performance Officer 

“I recently read the classic Casino Royale by Ian Fleming, and I’m partway through Goldfinger. I also regularly read Pivot, a magazine for CPAs, and each year I read the Urban Land Institute and PwC Emerging Trends in Real Estate report.” 

Rosa Cameron, SVP People & Culture” 

“Atomic Habits by James Clear. I’ve also subscribed to his 3-2-1 Thursday newsletter for the longest time, and I like his approach to continuous improvement and developing good habits on a small, incremental basis each day.” 

Steve Smith, SVP Capital Markets – Debt 

“I just finished American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road by Nick Bilton. It’s about Russ Ulbricht, who built a billion-dollar online drug empire. I also really liked The Only Rule is It Has to Work, by Sam Miller and Ben Lindbergh, about what happens when two baseball analytics bloggers were allowed to manage a minor league baseball team. I recently listened to Bad Blood, an audiobook about Theranos founder Elizabeth Holmes.” 

Leif Snethun, CEO, Agricultural Land Trust 

“Atlas Shrugged, by Ayn Rand. It’s a thought-provoking novel about a philosophy that’s still relevant today, even though it was written in the 1950s.” 

Gabriel Millard, SVP, Capital Markets – Equity and Research 

“I like the podcasts Macro Voices (about markets and macroeconomics), On the Margin (about asset management, macroeconomics, and ideas that were once radical are becoming mainstream); and Hardcore History (which takes a deep dive into historical events). 

“I’ve been reading The End of the World Is Just the Beginning: Mapping the Collapse of Globalization by Peter Zeihan, which makes some dire predictions about how various countries will fare as globalization collapses; and the memoir Greenlights by Matthew McConaughey. I recommend you listen to the audiobook for the full experience.” 

Tammy Cho, SVP, Marketing

“Educated by Tara Westover is a page-turning memoir that recounts her sheltered life in the deserted mountains of Idaho, and her father’s resistance to normal society, government, and education. Despite all this, she went to college at 17 and completed her Ph.D. at Cambridge University. I’m also listening to the Greenlights audiobook by Matthew McConaughey that documents his life’s trials and tribulations in a raw, unfiltered, and captivating way – it’s an inspirational collection of stories and insights.”

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at https://avenuelivingam.wpenginepowered.com/forward-looking-statements for additional information regarding forward-looking statements and certain risks associated with them. 

Avenue Living Wins Gold in 12th Annual Best in Biz Awards

The organization demonstrates a commitment to innovation, sustainability, and customer service excellence. 

Calgary, Alberta – December 7, 2022 – Avenue Living Asset Management (“Avenue Living”) has been named a gold winner for Company of the Year – Canada by the Best in Biz Awards. 

By investing in the everyday and adding value to its properties, expanding the organization’s footprint, and focusing on its workforce and brand advantage, Avenue Living has demonstrated the ability to be defensible, stable, and strategic in its daily operations and long-term vision to drive value for its customers and stakeholders.  

The 12th annual Best in Biz Awards saw more than 700 entries from public and private companies of all sizes and represents diverse industries and regions in the U.S. and Canada, ranging from global brands to the most innovative start-ups and local companies. This year’s judges highlighted the winning companies’ visionary leadership, innovative strides in the use of new technologies, and the adoption of workplace best practices. Many winners also continued to invest in environmental and corporate social responsibility programs. 

“We’re incredibly proud of the resilience our team and organization showed throughout 2022,” says Jason Jogia, chief investment officer of Avenue Living. “Being named a gold winner for Company of the Year by the Best in Biz Awards is a testament to our team’s commitment to excellence and sustainability in the multi-family industry.” 

Since the program’s inception in 2011, winners of the Best in Biz Awards have been determined by independent judging panels assembled from some of the most respected national and local newspapers, TV and radio outlets, and business, consumer, technology, and trade publications in North America. The 2022 judging panel included, among others, writers from AdWeek, Computerworld, Forbes, The Globe & Mail, Inc., The Oregonian, and Portland Tribune. 

“The depth and breadth of this year’s nominees in Best in Biz Awards – and especially the winners – demonstrate savvy business acumen among the leadership and represent the type of entrepreneurship powering today’s economy,” said Dustin Klein, Smart Business, judging his first Best in Biz Awards competition.

After reviewing hundreds of submissions, the judges were impressed with Avenue Living’s growth, both in terms of employee numbers and assets under management. They highlighted Avenue Living’s focus on serving all stakeholders, including offering new features such as integrated payments through its fin-tech platform, Zenbase. Its resident retention and Google reviews clearly showcase how this has resulted in high resident satisfaction. In addition, the panel emphasized Avenue Living’s commitment to sustainability and its involvement in the United Nations-supported organization, Principles of Responsible Investment, to spearhead environmental retrofits, implement smart solutions, and update aging assets. 

For a full list of gold, silver and bronze winners in Best in Biz Awards 2022, visit: http://www.bestinbizawards.com/2022-winners.  

About Avenue Living Asset Management 

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to $4.25 billion CAD in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 900 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to 15,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,900+ acres of productive farmland, and more than 5 million square feet of self-storage space.  

About Best in Biz Awards 

Since 2011, Best in Biz Awards has been the only independent business awards program judged by a who’s who of prominent reporters and editors from top-tier publications from North America and around the world. Over the years, judges in the prestigious awards program have ranged from Associated Press to the Wall Street Journal and winners have spanned the spectrum, from blue-chip companies that form the bedrock of the global economy to some of the world’s most innovative start-ups and nimble local companies. Each year, Best in Biz Awards honors are conferred in two separate programs: North America and International, and in 100 categories, including company, team, executive, product, and CSR, media, PR and other categories. For more information, visit: http://www.bestinbizawards.com. 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at https://avenuelivingam.wpenginepowered.com/forward-looking-statements for additional information regarding forward-looking statements and certain risks associated with them. 

Breathing New Life into Canada’s Housing Supply

Amid a growing wave of responsible investing, strategic partnership between Avenue Living and CIB paves the way for a greener, more sustainable future for investors and residents.

As a responsible private real estate investment manager, Avenue Living has long placed ESG at the forefront of its decisions and operations. With its focus on operating and maintaining workforce housing, as well as oversight through its flagship investment vehicle, the Avenue Living Real Estate Core Trust, the organization is no stranger to the social and governance piece of the puzzle. But several years ago, the firm saw an opportunity to go farther in its commitment to responsible stewardship. Read more about the pioneering partnership.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

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Leader Profile: Jason Jogia

As the chief investment officer of Avenue Living, Jason Jogia plays a key role in the firm’s strategy: looking past trophy real estate to focus on everyday assets like workforce housing, commercial real estate, farmland, and self-storage. Learn more about how Jason’s life-long fascination with real estate set him on the path to becoming Avenue Living’s CIO.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

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Avenue Living Surpasses $4.25 Billion in Assets Under Management

Calgary, Alberta, October 18, 2022 – Avenue Living announced today it has exceeded $4.25 billion in assets under management (AUM).  

Following a series of key acquisitions in its multi-family residential, self-storage, and agricultural funds, Avenue Living reported this significant milestone, representing a 4X increase to its AUM since 2018. Headquartered in Calgary, Alberta and Dallas, Texas, the organization has grown to over 900 employees in seven provinces and 13 states, with additional plans for growth on both sides of the border.   

“Our business philosophy of ‘investing in the everyday’ means that we see potential in properties and markets that others often overlook,” says Anthony Giuffre, founder and CEO of Avenue Living. “We have built a scalable, defensible model that continues to perform through varying market cycles, and we have effectively institutionalized low-density property management by developing an infrastructure that is sustainable and repeatable.”  

Starting in 2006 with its first acquisition of a 24-unit property in Brooks, Alberta, the journey to becoming one of Canada’s largest property owners in both the multi-family rental residential and self-storage sectors has resulted from a clear, strategic focus on the North American Heartland. The organization has a well-researched understanding of the unique demographic profile, dubbed ‘workforce housing’, which it defines as a subset of the economy earning between $15 and $50 per hour.   

Jason Jogia, chief investment officer at Avenue Living states, “The days of passive income through property ownership are ending. In the largely unconsolidated markets we enter, legacy owners are looking for succession plans for their properties and businesses.” Jogia asserts that, “We find and acquire properties that are underperforming, and invest in strategic operational, capital, and technological enhancements to bring these properties up to the Avenue Living standard. These improvements not only enrich the customer experience but improve the operating performance of the property. Our growth is measured, conservative, and deliberate across the geographies we target; and the assets we choose have proven to be defensible through times of volatility.” 

Avenue Living is the second largest building operator in Canada by roofline and has 10 per cent of their residential multi-family portfolio in the United States. The organization’s self-storage fund, Mini Mall Storage Properties, has grown exponentially in just over two years with over 4.6 million square feet of storage space and 56 per cent of its facilities in the U.S.. In addition, Avenue Living Agricultural Land Trust steadily grew across the Canadian Prairies, with 82,900 acres under ownership and leased as active farmland.  

The organization’s focus away from ‘shiny objects’ has historically insulated the portfolio from the high highs and the low lows seen in high-growth markets. “Our growth is intentional; it creates economies of scale and scope, which continuously enhances our operational excellence,” says Gabriel Millard, senior vice president of capital markets. “We focus on markets that have historically exhibited low to moderate growth, where we use our expertise to manufacture alpha. As we see a resurgence across the North American Heartland, we are well positioned to continue capturing the upside of this economic trend.”  

ABOUT AVENUE LIVING  

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to $4.25 billion CAD in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 900 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to 15,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,900+ acres of productive farmland, and more than 4.6 million square feet of self-storage space.  

All financial figures are in Canadian dollars. 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.  

Mini Mall Storage Welcomes Brian Boulter as Senior Vice President of Acquisitions

Dallas, TX, August 25, 2022

Mini Mall Storage Welcomes Brian Boulter as Senior Vice President of Acquisitions to Strategically Drive Growth From Coast to Coast

With a well-defined focus on first generation self-storage products in secondary and tertiary markets and a continued upward trajectory, Mini Mall Storage Properties (MMSP) has appointed Brian Boulter as Senior Vice President of Acquisitions. Based in the company’s Dallas location, Boulter will lead the overall acquisition strategy across North America.

In its first two years of operations, MMSP has aggressively added new acquisitions and expanded into exciting new markets, reaching over 4.1 million square feet in self-storage space, $660 million in assets under management (AUM), and setting the stage for strong future growth.

Boulter brings over 15 years of experience in self-storage asset management and acquisitions, having previously served in various executive positions at different national self-storage brands across the U.S. and Canada. Throughout his career, Boulter has developed a unique focus on acquisitions, fostered deep relationships with brokers and property owners, and led a team of acquisitions experts in best practices and strategic development.

“Mini Mall’s growth trajectory is coupled with an entrepreneurial spirit that I have not observed in the self-storage industry for a very long time,” says Boulter. “The fundamentals for self-storage are strong right now — it’s one of the best asset classes to be in as a hedge against inflation. I’m excited to join MMSP’s focused and highly strategic leadership team to successfully deliver on our clear vision and acquire stabilized properties from coast to coast.”

“As Mini Mall continues to bring stability to independent operators, our customers, and the industry as a whole, we are very fortunate to have Brian lead our team of talented acquisitions experts,” said Adam Villard, Chief Executive Officer of Mini Mall Storage Properties. “As the market shifts, I’m confident that our breadth of self-storage leaders and professionals will provide a solid foundation for us to drive ongoing value for our customers and investors.”

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.