IRVINE, CA—Avanath Capital Management, LLC, a private real estate investment manager, has announced the final close for Avanath Affordable Housing II Fund, having completed its $200 million capital raise, according to John Williams, president and CIO of Avanath.

Avanath specializes in the acquisition and operation of affordable and workforce housing assets nationwide, with a focus on supply-constrained markets.

The firm says the fund is comprised of 10 investors, including three state pension funds, two banks, three insurance companies, one foundation and one family office.

“Six of our 10 investors are repeat investors, which speaks to the strength of our first fund,” explains Williams. “We are also gratified that our fund has appeal across such a broad spectrum of investor types.

“With anticipated returns at 13 to 15% net to investors, we and all of our investors are focused on bottom-line profitability. In addition, the breadth of financial organizations involved in our second fund also shows support for the value of the social benefits we provide. In the communities surrounding our investments, we are raising the bar for the quality of affordable housing in areas where it is most needed.”

Following the fund's first closing in December 2013, Avanath Affordable Housing II has already invested in 13 affordable and workforce multifamily assets in Southern California; Northern California; Washington D.C. metro; New York City; Orlando, FL; Naples, FL; and Cary, NC.

Approximately 25% of the $200 million is still available for investment in additional properties, Williams says.

Avanath Capital Management currently has approximately 31 multifamily properties totaling more than 5,700 units under management and ownership.

Instant Insights /

Avanath Capital Closes $200M Fund

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