Who We are
Avenue Living is one of the largest private real estate owner / operators in Western Canada. Since 2006, Avenue Living has acquired $950 million in assets under management across various asset classes, risk profiles, and primary / secondary Western Canadian markets. Above all, we are a value-oriented asset manager. Our selective investment approach aims to create long term value, preserve capital, and drive compelling returns for investors through a variety of investment offerings. To date, Avenue Living has raised $125 million in equity from private, strategic capital partners.
Our experienced management team specializes in identifying and acquiring under performing real estate assets, typically well below replacement cost. We then stabilize the assets through hands on management and targeted value-add initiatives. Over the past decade, we have built a significant portfolio of assets that generate solid returns for our investors, and provide quality homes and workplaces in our communities.
Avenue Living established
First 24 units acquired in Brooks, Alberta. Implements value creation model through renovations and improved management, resulting in enhanced rents and income.2006
Investment Strategy Executed
Assets are refinanced and equity is deployed for new acquisitions. Avenue Living begins building the property management platform in parallel as the portfolio grows.2006-2007
Executes on its investment strategy, growing from 100 to 5,500 multi-residential units in 7 years across Alberta, Saskatchewan, and Manitoba. Growth is enabled through strategic capital relationships.2007 - 2014
Launch of First Trust
Avenue Living (2014) LP established, successfully raising $85 million in private capital. Assets under Management total 6,000+ units valued at ~$850 million.2014 - 2016
Capital Improvements Focus
Management strategically refocuses on launching a major $85 million capital program, renovating the entire portfolio to a new standard of quality and extending the useful life.2014 - 2017
Expansion of Offerings
Avenue Living Real Estate Opportunity Trust and Avenue Living Agricultural Land Trust established as new investment offerings in 2016. ~$40 million in equity raised collectively to date.2016 - 2017
Poised for Growth
Avenue Living continues to grow and diversify its portfolio and capital markets base. Avenue Living Asset Management manages ~$950 million in assets, incl. multi-residential, commercial, and agricultural land assets (as at Oct 2017).2017
Aligned Interest with Investors
Within Avenue Living, all of our management team has their interests financially aligned, side by side with our investors. We believe that this alignment fosters the best decision making and performance to benefit our collective investor community.
Core Principles of Our Investment Philosophy
Our investment strategies aim to create long-term value for our investors and the communities in which we operate. We emphasize value based on concrete asset cashflows rather than investment trends or market appreciation.
We operate with discipline as an undercurrent in everything we do for our business, residents, and investors. All negotiations, due diligence activities, capital sourcing, and operations are approached with rigour and methodology.
We recognize that risk mitigation requires diversity of markets, asset classes, risk profiles, and capital sources. As we grow our platform, we constantly monitor our portfolio diversification.
We pursue opportunities where others may not look. We create value, whether it is through capitalizing on niche non-core markets, inefficient market conditions, or underrated asset types.
Our roots are grounded in the foundation of our history: empowering our professionals to collectively approach our business with enthusiasm, innovation, and a propensity for problem solving.
How We Buy, Where We Buy
Both core and non-core markets can have high barriers to entry for most investors. This is primarily driven by limited operating experience, capital constraints, access to property management, and logistical challenges. Over the past decade, Avenue Living has overcome these barriers by establishing professional property management infrastructure, local presence, and strategic capital partnerships. We continue to execute on opportunities in these markets, supported by our platform that has grown in parallel with our portfolio.
Avenue Living Asset Management is located in our Calgary head office, and provides strategic asset management services to each mutual fund trust. Our experienced management team has developed extensive networks and expertise to source attractive deals and capital, analyze opportunities, and optimize value. Collectively, we are custodians of $300 million in equity, and manage $950 million in direct real estate assets across Western Canada.
The asset manager provides a comprehensive range of services, including advisory, investment management, trust-level accounting, taxation, and legal services. It manages all aspects of deal sourcing, underwriting, financing, and strategic operations for real estate acquisitions and dispositions. Our team employs an active, hands-on approach to asset management, while consistently maintaining a long term, value-oriented view on our investment strategies.
$2 billion in transaction financing
Managed $85 million capital program
Custodians of $300 million in equity
Avenue Living Communities, our integrated property manager operates all assets on behalf of each mutual fund trust. This scaleable property management platform spans across 20 markets in Alberta, Saskatchewan, and Manitoba, including a centralized call-centre and work order dispatch team located in our Calgary head office.
The property management team oversees day-to-day operations and capital projects across all asset classes. We execute a hands-on approach to sales and leasing, marketing, work order dispatch, project management, capital investments, property accounting, and human resources. Internalized end-to-end property management operations enable us to manage our assets with efficiency, cost effectiveness, and quality control.