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11/21/25
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Avanath Capital Management LLC, an Irvine-based multifamily owner and operator that primarily focuses on affordable and workforce housing, has received a $75 mil equity commitment to the Avanath Affordable Housing Renaissance Fund (“the Fund”) from Ballmer Group, a philanthropy focused on improving economic mobility for children and families in the U.S. with a growing commitment to addressing the housing crisis in America.
The Renaissance Fund, which encompasses a portfolio of 30 multifamily communities with an asset value of $1.35 bil, is focused on investment in affordable and workforce housing acquisition, preservation, renovation, development, and operations throughout the United States.
This commitment is a testament to the impact that can be achieved through investment in affordable and workforce housing across the country, according to Daryl J. Carter, founder, chairman, and CEO of Avanath. According to Carter, the open-end fund, which focuses exclusively on affordable and workforce housing, allows Avanath to build and renovate its portfolio, preserving and adding to the country’s quality affordable and workforce housing stock, while also investing at the human level through social programs.
According to John Williams, president and COO at Avanath, this commitment comes as the Fund is investing in new ways to deliver attainably priced housing in response to the U.S. housing market’s critical need to develop more than 4 million units over the next 10 years.
Avanath was advised on this transaction by Skyhawk Capital Advisors and Beekman Advisors.
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