As the pandemic is still with us and keeps fueling uncertainties around the world, investors are looking for different ways to invest away from the traditional markets’ volatility. One way is to consider more tangible values such as real-estate opportunities through alternative investment funds.
We are glad to share with you today the successful expansion of our real-estate partner in North America, Avenue Living.
In recent years, the company has broadened its real estate assets in Western Canada, where it owns and operates just under 10,000 units across 19 markets in the provinces of Alberta, Saskatchewan and Manitoba. In the city of Edmonton in particular, Avenue Living has seen an opportunity for residential rental growth and today it owns 1,440 units in 62 complexes throughout the city.
Pursuing its successful model of acquiring and managing multi-family residential properties in Western Canada, the company has announced last month its expansion in the US real estate market with the launch of a new real estate fund. Mr. Brad Wall, former Premier of Saskatchewan and Special Advisor for the Avenue Living Core Trust, says the expansion into the U.S. market makes a lot of sense for the company.
“You have many states in the U.S., in the Midwest and in the western part of the country, who share comparable demographics and economies with Saskatchewan and Alberta. With those similarities, we believe the Avenue Living model is transferable and can work there as well,” says Wall. “The opportunities are there.”
Avenue Living’s roots began in 2006 and has substantially grown its portfolio since then. The company currently includes $1.7 billion CAD in assets under management over its five funds, encompassing 10,000 multi-family units, over 400,000 square feet of commercial and retail space, over 1,800 storage units, and over 37,000 acres of farmland.
Despite challenging economic conditions worldwide, Avenue Living is growing and thriving. As soon as the Covid-19 crisis started, the company has quickly reacted by taking impactful steps to protect and grow its business while continuously helping its real-estate communities.