What happens when a real estate investment firm decides to step out of Canada's hotter urban markets in favor of buying assets in smaller urban centres and towns scattered around the prairies?
A new way of investing in real estate is born.
Avondale Real Estate Capital Income Trust is a different kind of real estate investment company. We are small, we are agile, we are well-schooled in finance and real estate analytics, and we jump on opportunities that bigger firms often simply do not see.
Our big claim to fame is small municipalities. We seek out multi-family and commercial investment properties in markets across the prairies - assets that are typically underperforming and often in need of improvement, but hold incredible potential in terms of the income they could generate under the right business model.
The business model that we employ is time tested and proven successful. Developed in part over 10-years time by our sister company, Avenue Living, an integral part of the Avondale approach to real estate is built on the same model that made Avenue one of the fastest growing and highly profitable real estate investment and management companies in the country.
We acquire underperforming and undervalued multifamily properties in areas where we have an established property management infrastructure in place. This allows us to quickly revitalize these assets into upgraded, well managed properties that drive capital gains for investors.
We balance our portfolio by also investing in well managed commercial, retail, or industrial assets, which provide predictable cash flows.
We believe in the future of the Prairie Provinces
We believe in investments based on sound math & analytics
We believe in making smart decisions that yield proven results
Avondale capitalizes on the proven business model of Avenue Living - a company founded on mathematical principles that led it to acquire and successfully manage an $800 million portfolio of over 6,000 rental units in markets across Western Canada.
Avondale offers the unique opportunity to invest in a fund that pursues the kind of assets that are proven to produce strong yields within a short period of time, in markets that are typically difficult for investors to reach. The infrastructure to invest in these markets is already in place, courtesy of Avenue Living, which also provides a decade of experience and knowledge in real estate management.
Through extensive market research and analysis, Avondale selects assets that allow investors to diversify their portfolios in niche areas at value prices, and generate higher returns on investment compared to similar assets in large, more competitive, and more expensive markets.
Avondale maximizes returns and diversification by targeting markets that most investors don't. Within these markets, we capitalize on underperforming properties by buying the right asset at the right price.
Avondale's principals utilize decades of experience, industry relationships, and a sizeable financial base to source acquisition opportunities and the optimal capital structures to support them.
Through our association with Avenue Living, Avondale has access to a full-time property management team of more than 220 people. These local managers oversee operations for each asset across all our markets, thus providing a built-in infrastructure advantage to ensure our entire portfolio is properly maintained and managed.
Avondale is a stable and growing firm that holds approximately $60 million in asset acquisitions under contract, including 328 multi-residential units and 335,000 square feet of commercial real estate. We hold strong lease agreements with corporations such as Alberta Health Services, Sportchek, Scotiabank and Loblaws.
Square Feet of Commercial Real Estate
In Asset Acquisitions Under Contract
Mr. Jogia has over a decade of experience in the real estate financing industry. Most recently, he led the management of a $1.5 billion real estate lending portfolio with Scotiabank. Mr. Jogia has originated and structured over $10 billion in real estate loans. Mr. Jogia obtained his MBA from the University of Calgary, and his Masters of Corporate Finance at SDA Bocconi in Milan, Italy.
Mr. Giuffre 16 years of commercial and residential real estate experience, spearheading over $1 billion in real estate acquisitions and over $1 billion of real estate financing transactions. Prior to founding Avenue Living, Mr. Giuffre had assisted over 200 clients secure investments in 500+ properties totalling more than $350 million in value. From 1995-2003, Mr. Giuffre managed, owned and operated a number of successful businesses. He also has graduated from the University of Calgary with a Bachelor of Art degree.
Mr Diodati has 16 years of commercial and residential real estate experience with involvement in more than $1 billion of real estate transactions. Previously worked at Dow Chemical as a consultant to the residential construction industry and was instrumental in implementing the Built Green Alberta initiative and still promotes sustainable building and development. Graduated from McGill University with a degree in Chemical Engineering.
Dr. Giuffre specializes in Pediatric Cardiology. He serves as a Clinical Professor at the University of Calgary, and practices at the Alberta Children's Hospital. Dr. Giuffre is the chair of the Alberta Medical Association and Council of Zonal Medical Leaders, and sits on the Board of Directors for more than 6 organizations, including UNICEF Canada, and the Canadian Medical Association. Post graduate degrees/fellowships include: MD, MBA, FRCPC, FACC, FAAC. He has been involved with Avenue Living since its inception.
Managing Director of AgeCare Investments Ltd. and Clinical Professor at the University of Calgary and past Vice Dean. Past President of Alberta Medical Association, past SVP and Chief Medical Officer of Calgary Health Region. Recipient of many prestigious awards including the Queen's Diamond Jubilee Medal. Dr. Jivraj has served as Chair, Director, and Trustee of several public, private and charitable organizations.
Chief Legal Officer of Nevsun Resources Ltd. (NSU on TSX and NYSE). Over 25 years in commercial law, representing and advising Canadian and foreign public/private companies and financiers in: securities and stock exchange regulatory matters, public offerings, joint ventures, debt and equity financing structures, mergers and corporate reorganizations, purchase and sale agreements, corporate governance, executive and board policies, license agreements, and other commercial matters.
Most recently, Ms. Li managed strategic initiatives for Scotiabank's national real estate group based in Toronto. Previously, she managed a $550 million portfolio of multi-family, commercial, and industrial construction and long term real estate financing in the prairies. Prior to Scotiabank, Ms. Li provided consulting services for various national/international clients with Accenture, a global management consulting firm. She managed stakeholder relations at varying management levels, and worked on projects across multiple industries to improve process efficiencies, partnership relations, and identify cost efficiencies. Graduated from University of Calgary with a B. Comm degree.
Mr. Smith has 10 years of real estate investment experience with international banking and private equity firms. His focus has included multi-residential, office, retail and industrial asset classes having completed large portfolio acquisitions, REIT privatization and structured debt investments. Mr. Smith most recently worked for Triovest Inc. (Calgary), a Canadian real estate manager with $8 billion under management. Prior to Triovest, Mr. Smith worked for Timbercreek Asset Management (Toronto) and helped in the investment of over $2 billion in direct acquisitions and debt financing across Canada, the United States and the United Kingdom. Mr. Smith graduated from Dalhousie University with a B. Comm degree.