May 16, 2011 (Calgary, AB) - avenue living is pleased to annouce the recent purchase of 5 apartment buildings in both Regina, SK and Brooks, AB, adding a total of 104 apartments across both provinces. This $4.25 million multi-residential portfolio is highly accretive from a valuation standpoint and adds to the strength of our existing holdings in both cities. Carl Diodati, Chief Investment Officer of avenue living commented that: "This recent addition to our portfolio is a testament to our commitment to our Value Migration Model; which has a clear aim of bringing underperforming and less desirable apartments to much higher standards for the benefit of our stakeholders and above all, to our customers. Furthermore, it underscores our commitment to the city of Brooks and our belief in its bright future at a time when the consensus opinion is quite the opposite."
About avenue living
Based in Calgary, Alberta, avenue living is Western Canada's fastest growing private apartment building owner and operator. We came from humble beginnings with a few buildings in Southern Alberta, and in just over four years have grown to manage over 2000 rental apartments in the Prairie Provinces. We now own and operate buildings in Brooks, Edmonton, Lethbridge, Moose Jaw, Regina, Saskatoon, Swift Current, Winnipeg and Yorkton, and continue to expand into new markets. Despite our rapid growth, we remain primarily focused on placing our valued customers' needs first and providing them with quality homes and apartments for rent. We also believe in providing our customers with housing solutions that let them actively participate in reducing their impact on our environment when renting with us, by continuing to upgrade our buildings to make them more energy efficient.
avenue living | 403.984.9363 | Calgary, Alberta | www.avenueliving.ca