Avanath Capital Management, LLC

Avanath Capital Management, LLC is a real estate investment manager specializing in affordable/workforce multifamily properties developed under programs like the Low Income Housing Tax Credit. Founded in 2008, the firm is owned by industry professionals with a focus on affordable housing. Avanath manages assets of approximately $3.6 billion on a discretionary basis. The firm provides investment advisory services to twelve clients, including closed-end funds and co-investment vehicles. Avanath's investment strategies are tailored to meet clients' objectives, with the authority to buy and sell investments without client consultation. The firm charges management fees based on capital commitments, with incentive allocations described in offering documents. Avanath's investment focus includes high-quality multifamily communities in coastal markets. The firm evaluates opportunities based on investment goals, market conditions, risk assessment, and value-adding potential. Risks include market fluctuations, competition, and investment concentration. Avanath has a Code of Ethics to ensure fair practices and a fiduciary duty to act in clients' best interests. The firm has custody of clients' funds through qualified custodians and exercises discretionary authority over investment decisions. Avanath does not engage in brokerage practices for real estate transactions and does not hold publicly-traded securities with voting rights. The firm has no financial conditions impairing its ability to meet client commitments.