Avenue Living Asset Management reaches new heights in Canada and the U.S.

Calgary-based real estate investor and operator exceeds $2 billion in assets under management, a 30 per cent increase in less than one year

CALGARY, AB, Dec. 8, 2020 /CNW/ - Avenue Living Asset Management ("Avenue Living") has surpassed $2 billion in assets under management (AUM) during the COVID-19 pandemic.

"This is a significant milestone for the organization," says Anthony Giuffre, Founder and CEO of Avenue Living. "We have created a robust and sustainable platform, and we have shown that we have the systems and processes to thrive during market fluctuations."

The organization has grown by over $450 million in AUM since December 2019, an increase of 30 per cent. "The depth and breadth of our platform allows us to pivot and adapt as necessary," says Giuffre. The organization operates as a vertically integrated platform which gives its investment funds access to best-in-class legal, property management, marketing, logistical and customer service expertise. "We have five unique investment offerings that have a competitive advantage in the marketplace, allowing us to pool individuals together who have incredible amounts of knowledge and expertise."

Avenue Living invests in class B and C multi-family housing, a segment of the market which is frequently overlooked, but nevertheless has proven stable in the face of market volatility. This asset class often serves the essential workforce, who make up almost 40 per cent of the Canadian population, and during the pandemic have often been referred to as the "backbone of the economy." Over the past year, the organization has expanded its focus to invest in workforce housing in the United States, as well as self-storage in Canada. All five funds invest in what the company refers to as "the everyday," assets and businesses that serve most of the workforce.

"What has changed between reaching $1.5 billion and $2 billion in AUM is that we have profoundly identified our 'why,'" says Jason Jogia, Chief Investment Officer of Avenue Living. "Avenue Living invests in the everyday, and this has proven to be tenacious through the ups and downs of three economic cycles, and now the pandemic. The pandemic has been an affirmation that our investment philosophy and our 'why' work well, and it's the right business to be developing."

"Our focus has allowed us to speak to all of our stakeholders with a unified voice, and we continue to be in command and control of our company," says Giuffre. "The business environment that surrounds us is ever-evolving, from the geopolitical climate to the credit markets. We continue to take the temperature of all of our stakeholders and adapt, as necessary."

The interdisciplinary platform has allowed Avenue Living to adapt and communicate with stakeholders — including employees, residents, investors, vendors, and the financial community — as the pandemic unfolded. The organization has remained a net-positive employer in 2020 and continues to offer training and competitive benefits to its team members. It has continued to provide residents safe and comfortable homes and offered services and assistance to help them navigate the lockdown. Avenue Living has continued to honour commitments to vendors both large and small, including local businesses.

"The platform has set the stage for future growth," says Giuffre. "We have created the internal framework that will allow us to achieve the next milestone."

About Avenue Living

Passionate about investing in the everyday, Calgary, Alberta-based Avenue Living is an asset manager with over $2 billion in AUM. Founded in 2006 with the purchase of 24 units, today Avenue Living employs over 520 people and continues to capitalize on real estate opportunities in more than 24 markets across western Canada and the United States. Currently, the Avenue Living platform includes five investment funds, with approximately 10,000 multi-family units, 500,000 square feet of commercial space, 45,000 acres of agricultural land and 550,000 square feet of self-storage.

SOURCE Avenue Living Asset Management