Calgary-based Avenue Living announced it has reached a milestone of 15,000 multifamily homes under ownership following the recent acquisition of a 386-unit property in Columbus, Georgia. The $52 million-purchase reinforces Avenue Living’s 16-year consolidation strategy, which focuses on low-to-medium density workforce housing located in key markets.

“Since entering the multifamily space in 2006, we’ve focused on creating an operating model that puts the residents’ needs first,” said Anthony Giuffre, Founder and CEO  at Avenue Living. “Our experience has shown that these needs transcend geographies, which presents opportunities to expand our defensible model across key locations in Canada and the United States.”

Avenue Living has a track record of adding value to buildings promptly after purchase, as the first step towards improving resident satisfaction.

“We proactively implement service and technology improvements, like security, prop-tech, fin-tech, and capex investments,” said Giuffre. “Through our innovative solutions and operations-first approach, we have bolstered our reputation and investor confidence. Word-of-mouth referrals have increased, and our Net Promoter Score has risen consistently — a strong hallmark in the rental industry because it represents 365 days of good service, not one simple transaction.”

Avenue Living says it continues to see strong tailwinds in the workforce housing rental market with 97.5 per cent occupancy across its portfolio, and higher than average retention rates.

“We use a rigorous research and analysis process to select each and every one of our multi-family properties,” said Jason Jogia, Chief Investment Officer at Avenue Living. “We understand local market conditions, industry and employment opportunities in the region, level of demand, and of course the potential of each property we acquire.”

For more, visit www.avenueliving.ca