May 31th, 2012 (Calgary, AB) - avenue living is pleased to annouce the completion of a group of purchases totaling 209 units in Edmonton, Alberta. This $18.7 million purchase represents a group of acquisitions that greatly increases avenue living's product offering in the City of Edmonton. The Greater Edmonton Area constitutes a very large market for renters and apartment owners. Our increased presence in this marketplace continues to further the breadth of our scope across the Prairies.
"Edmonton represents a fantastic opportunity to continue to consolidate mid-market, profitable apartments simply because of the sheer size of the market." said Carl Diodati, Chief Investment Officer for Avenue Living. "Now that Edmonton has successfully weathered several commodity cycles, we are witnessing a return to fundamentals which is quite encouraging. Edmonton's rent affordability remains the highest in all of Western Canada and that's a good thing."
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 2200 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