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Daryl J. Carter Daryl J. Carter

Avanath Development has entered the opportunity zone race. The firm has launched a qualified opportunity zone fund with a target raise of $300 million, which the firm plans to hit in the next six months. Avanath is a seasoned affordable housing and market-rate multifamily developer and has already been active in several opportunity zone markets.

“We have built a business about investing in markets that have been underserved by institutional capital,” Daryl J. Carter, chairman of Avanath Development, tells GlobeSt.com. “We started looking after the sites were finalized as opportunity zones, and we realized that of our 70 communities, there were roughly 15 to 18 that were in opportunity zones. When we started looking at the potential, we had three properties we had considered for redevelopment, and we realized that those deals penciled for opportunity zone investors.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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