Mini Mall Storage Welcomes Two Leadership Team Members

Dallas, TX and Calgary, AB, February 2, 2023 

In the midst of significant and strategic growth across North America, Mini Mall Storage Properties (MMSP) is focused on delivering operational efficiency and superior customer experience at every location. With that in mind, the company is announcing the addition of two new members this week: Joe Colavecchia is joining as SVP, Operations, and Lee-Ann Emment as SVP, Business Operations. Both leaders bring a wealth of experience working for major brands in their respective functions, and their contributions will help guide the strategic growth as MMSP embarks on a promising 2023.  

Joe Colavecchia has decades of experience in operations and leadership, having built roadmaps to drive efficiency for major automotive rental and mattress companies. He actively invests in people through training and mentorship to deliver superior customer service — which is already a tenet within the Mini Mall strategy. Colavecchia is looking forward to helping MMSP develop operational plans, training, and procedures to support field teams and create a consistent customer experience. “Mini Mall’s solid foundation and aggressive expansion excites me,” says Colavecchia. “The hub-and-spoke model and state-of-the-art technology set Mini Mall apart, and I’m looking forward to being part of building the company’s future growth.” 

Lee-Ann Emment brings 30 years of experience in business operations and has held various leadership roles for major companies in retail and financial services. Emment’s background in project management, operations, and corporate strategy will be instrumental in helping Mini Mall improve its in-house processes and ensure smooth operation across different business functions. “The consumer goods and services industry is constantly evolving and businesses are affected by different economic situations and external drivers,” says Emment. “As a company, you need to adapt to meet customer needs and I’m eager to enhance the tools and insights at Mini Mall.”  

“We continue to refine our operations and focus on our customers as we gear up for another exciting year,” says Adam Villard, Chief Executive Officer of Mini Mall Storage Properties. “We’re fortunate to have Joe and Lee-Ann join us to evolve our teams and advance our business practices. I’m confident their leadership skills and multifaceted experience will add tremendous value as we work to deliver industry-leading self-storage to secondary and tertiary markets across North America.” 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at https://avenuelivingam.wpenginepowered.com/forward-looking-statements for additional information regarding forward-looking statements and certain risks associated with them. 

Avenue Living Wins Gold in 12th Annual Best in Biz Awards

The organization demonstrates a commitment to innovation, sustainability, and customer service excellence. 

Calgary, Alberta – December 7, 2022 – Avenue Living Asset Management (“Avenue Living”) has been named a gold winner for Company of the Year – Canada by the Best in Biz Awards. 

By investing in the everyday and adding value to its properties, expanding the organization’s footprint, and focusing on its workforce and brand advantage, Avenue Living has demonstrated the ability to be defensible, stable, and strategic in its daily operations and long-term vision to drive value for its customers and stakeholders.  

The 12th annual Best in Biz Awards saw more than 700 entries from public and private companies of all sizes and represents diverse industries and regions in the U.S. and Canada, ranging from global brands to the most innovative start-ups and local companies. This year’s judges highlighted the winning companies’ visionary leadership, innovative strides in the use of new technologies, and the adoption of workplace best practices. Many winners also continued to invest in environmental and corporate social responsibility programs. 

“We’re incredibly proud of the resilience our team and organization showed throughout 2022,” says Jason Jogia, chief investment officer of Avenue Living. “Being named a gold winner for Company of the Year by the Best in Biz Awards is a testament to our team’s commitment to excellence and sustainability in the multi-family industry.” 

Since the program’s inception in 2011, winners of the Best in Biz Awards have been determined by independent judging panels assembled from some of the most respected national and local newspapers, TV and radio outlets, and business, consumer, technology, and trade publications in North America. The 2022 judging panel included, among others, writers from AdWeek, Computerworld, Forbes, The Globe & Mail, Inc., The Oregonian, and Portland Tribune. 

“The depth and breadth of this year’s nominees in Best in Biz Awards – and especially the winners – demonstrate savvy business acumen among the leadership and represent the type of entrepreneurship powering today’s economy,” said Dustin Klein, Smart Business, judging his first Best in Biz Awards competition.

After reviewing hundreds of submissions, the judges were impressed with Avenue Living’s growth, both in terms of employee numbers and assets under management. They highlighted Avenue Living’s focus on serving all stakeholders, including offering new features such as integrated payments through its fin-tech platform, Zenbase. Its resident retention and Google reviews clearly showcase how this has resulted in high resident satisfaction. In addition, the panel emphasized Avenue Living’s commitment to sustainability and its involvement in the United Nations-supported organization, Principles of Responsible Investment, to spearhead environmental retrofits, implement smart solutions, and update aging assets. 

For a full list of gold, silver and bronze winners in Best in Biz Awards 2022, visit: http://www.bestinbizawards.com/2022-winners.  

About Avenue Living Asset Management 

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to $4.25 billion CAD in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 900 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to 15,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,900+ acres of productive farmland, and more than 5 million square feet of self-storage space.   

About Best in Biz Awards 

Since 2011, Best in Biz Awards has been the only independent business awards program judged by a who’s who of prominent reporters and editors from top-tier publications from North America and around the world. Over the years, judges in the prestigious awards program have ranged from Associated Press to the Wall Street Journal and winners have spanned the spectrum, from blue-chip companies that form the bedrock of the global economy to some of the world’s most innovative start-ups and nimble local companies. Each year, Best in Biz Awards honors are conferred in two separate programs: North America and International, and in 100 categories, including company, team, executive, product, and CSR, media, PR and other categories. For more information, visit: http://www.bestinbizawards.com. 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at https://avenuelivingam.wpenginepowered.com/forward-looking-statements for additional information regarding forward-looking statements and certain risks associated with them. 

Avenue Living Surpasses $4.25 Billion in Assets Under Management

Calgary, Alberta, October 18, 2022 – Avenue Living announced today it has exceeded $4.25 billion in assets under management (AUM).  

Following a series of key acquisitions in its multi-family residential, self-storage, and agricultural funds, Avenue Living reported this significant milestone, representing a 4X increase to its AUM since 2018. Headquartered in Calgary, Alberta and Dallas, Texas, the organization has grown to over 900 employees in seven provinces and 13 states, with additional plans for growth on both sides of the border.   

“Our business philosophy of ‘investing in the everyday’ means that we see potential in properties and markets that others often overlook,” says Anthony Giuffre, founder and CEO of Avenue Living. “We have built a scalable, defensible model that continues to perform through varying market cycles, and we have effectively institutionalized low-density property management by developing an infrastructure that is sustainable and repeatable.”  

Starting in 2006 with its first acquisition of a 24-unit property in Brooks, Alberta, the journey to becoming one of Canada’s largest property owners in both the multi-family rental residential and self-storage sectors has resulted from a clear, strategic focus on the North American Heartland. The organization has a well-researched understanding of the unique demographic profile, dubbed ‘workforce housing’, which it defines as a subset of the economy earning between $15 and $50 per hour.   

Jason Jogia, chief investment officer at Avenue Living states, “The days of passive income through property ownership are ending. In the largely unconsolidated markets we enter, legacy owners are looking for succession plans for their properties and businesses.” Jogia asserts that, “We find and acquire properties that are underperforming, and invest in strategic operational, capital, and technological enhancements to bring these properties up to the Avenue Living standard. These improvements not only enrich the customer experience but improve the operating performance of the property. Our growth is measured, conservative, and deliberate across the geographies we target; and the assets we choose have proven to be defensible through times of volatility.” 

Avenue Living is the second largest building operator in Canada by roofline and has 10 per cent of their residential multi-family portfolio in the United States. The organization’s self-storage fund, Mini Mall Storage Properties, has grown exponentially in just over two years with over 4.6 million square feet of storage space and 56 per cent of its facilities in the U.S.. In addition, Avenue Living Agricultural Land Trust steadily grew across the Canadian Prairies, with 82,900 acres under ownership and leased as active farmland.  

The organization’s focus away from ‘shiny objects’ has historically insulated the portfolio from the high highs and the low lows seen in high-growth markets. “Our growth is intentional; it creates economies of scale and scope, which continuously enhances our operational excellence,” says Gabriel Millard, senior vice president of capital markets. “We focus on markets that have historically exhibited low to moderate growth, where we use our expertise to manufacture alpha. As we see a resurgence across the North American Heartland, we are well positioned to continue capturing the upside of this economic trend.”  

ABOUT AVENUE LIVING   

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to $4.25 billion CAD in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 900 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to 15,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,900+ acres of productive farmland, and more than 4.6 million square feet of self-storage space.   

All financial figures are in Canadian dollars. 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.   

Avenue Living Reaches 15,000 Multi-Family Units Under Management

Calgary, AB, Oct. 13, 2022 — All financial figures are in U.S. dollars

Calgary-based Avenue Living is pleased to announce that following the recent acquisition of a 386-unit property worth $52 million in Columbus, Georgia, it has reached a milestone of 15,000 multi-family homes under ownership in 23 regions across North America.

The purchase reinforces Avenue Living’s 16-year, proven consolidation strategy, which focuses on low-to-medium density workforce housing located in key markets. The company continues to target moderate growth markets that exhibit a diversified economic base and low institutional penetration.

“Since entering the multi-family space in 2006, we’ve focused on creating an operating model that puts the residents’ needs first,” says Anthony Giuffre, Founder and Chief Executive Officer 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 immediately adding value to buildings and improving resident satisfaction. “We proactively implement service and technology improvements, like security, prop-tech, fin-tech, and capex investments,” says 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 continues to see strong tailwinds in the workforce housing rental market and capitalizes on these conditions by consistently delivering best-in-class customer service to its residents — maintaining 97.5% occupancy across all units in North America and higher than average retention rates. This established service framework, through a vertically integrated operating platform, allows Avenue Living to deliver a consistent experience across new markets and support its expansion strategy.

“We use a rigorous research and analysis process to select each and every one of our multi-family properties,” says 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.”

As one of the largest consolidators of workforce housing across North America, Avenue Living’s latest milestone of 15,000 multi-family units puts the company into an upper tier within the Canadian real estate industry. Since the start of 2021, the organization has grown its unit count by 46%, acquiring over 4,800 multi-family units.

ABOUT AVENUE LIVING

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to $4.1 billion CAD in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 900 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to 15,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,900+ acres of productive farmland, and more than 4.6 million square feet of self-storage space.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them. 

Avenue Living Expands Core Trust with a New Acquisition in Georgia

Avenue Living is pleased to report its recent acquisition of The Palms Apartments in Columbus, Georgia, carrying on a tradition of offering affordable and high-quality multi-family homes to workforce housing residents in a new state.  

“We believe in the steadiness of Columbus,” says Stephen Smith, Vice President of Capital Markets. “It has strong and stable market fundamentals backed by a diversified employment landscape. When we look to enter a new market, we base our decision on a wide variety of factors — stability through economic downturns is an important indicator for us. In addition to being an attractive asset in a healthy market, we were able to secure accretive debt terms on this transaction.”  

This purchase signifies Avenue Living’s expansion into the southeastern United States, a market benefitting from inbound migration largely attributed to individuals and corporations choosing the area as a home base because of its affordability. 

Located in the North Columbus submarket, The Palms Apartments are situated along major transportation routes with convenient access to top school districts, retail, services, and four of the largest employers in the metro area. The median household income in this area is also significantly higher than in other parts of Columbus.  

The Class B garden-style apartment community has 386 units built between 1982 and 2002 and features two resort-style pools, a fully equipped fitness center, a lake surrounded by a walking trail, and barbeque areas, among other amenities. This acquisition represented an opportunity for Avenue Living to purchase a high-quality product at a price point that aligns with our affordability construct.   

While the property is well constructed, the team has identified several areas for capital improvements. “The Palms is a vibrant community with significant value-add potential, and there’s demand for a more modern product in this node of the city,” says Bettina Oslanski, Senior Vice President of U.S. Asset Management. “It is rare to find an asset of this age that’s so well maintained and can be repositioned through a small number of pointed, high-impact enhancements.”  

Avenue Living’s upgrade program will be comprised of a brand refresh, enhancements to amenity spaces, and unit renovations, including the installation of stainless-steel appliances, backsplash, granite countertops, hardware, and fixture upgrades. 

The renovation investment will total $5.8 million USD and benefit from Fannie Mae’s ‘Moderate-Rehabilitation’ program, which provides a fixed-rate, interest-only loan with the option of repatriating funds spent on capital improvements in the near term. The Avenue Living team secured the interest rate early, which provided insulation from the capital market fluctuations seen over the last several months and de-risked the acquisition. 

The Palms acquisition brings the total U.S. exposure of the Avenue Living Real Estate Core Trust to over 1,300 multi-family doors across five states. This expansion reinforces the defensibility of Avenue Living’s strategy by diversifying market, operational, and currency risks.  

“We continue to see investor support for our cross-border diversification strategy,” says Gabriel Millard, Senior Vice President, Capital Markets – Equity & Research. “10 per cent of our Core Trust exposure is now in the United States, and we are excited to continue expanding our footprint across the North American heartland.” 

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.  

Mini Mall Storage Welcomes Brian Boulter as Senior Vice President of Acquisitions

Dallas, TX, August 25, 2022

Mini Mall Storage Welcomes Brian Boulter as Senior Vice President of Acquisitions to Strategically Drive Growth From Coast to Coast

With a well-defined focus on first generation self-storage products in secondary and tertiary markets and a continued upward trajectory, Mini Mall Storage Properties (MMSP) has appointed Brian Boulter as Senior Vice President of Acquisitions. Based in the company’s Dallas location, Boulter will lead the overall acquisition strategy across North America.

In its first two years of operations, MMSP has aggressively added new acquisitions and expanded into exciting new markets, reaching over 4.1 million square feet in self-storage space, $660 million in assets under management (AUM), and setting the stage for strong future growth.

Boulter brings over 15 years of experience in self-storage asset management and acquisitions, having previously served in various executive positions at different national self-storage brands across the U.S. and Canada. Throughout his career, Boulter has developed a unique focus on acquisitions, fostered deep relationships with brokers and property owners, and led a team of acquisitions experts in best practices and strategic development.

“Mini Mall’s growth trajectory is coupled with an entrepreneurial spirit that I have not observed in the self-storage industry for a very long time,” says Boulter. “The fundamentals for self-storage are strong right now — it’s one of the best asset classes to be in as a hedge against inflation. I’m excited to join MMSP’s focused and highly strategic leadership team to successfully deliver on our clear vision and acquire stabilized properties from coast to coast.”

“As Mini Mall continues to bring stability to independent operators, our customers, and the industry as a whole, we are very fortunate to have Brian lead our team of talented acquisitions experts,” said Adam Villard, Chief Executive Officer of Mini Mall Storage Properties. “As the market shifts, I’m confident that our breadth of self-storage leaders and professionals will provide a solid foundation for us to drive ongoing value for our customers and investors.”

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them. 

CIB Commits $120 Million to Avenue Living

Calgary, AB, June 20, 2022 (GLOBE NEWSWIRE) — The Canada Infrastructure Bank (CIB) and Avenue Living Asset Management (Avenue Living) have entered into an agreement whereby the CIB and Avenue Living together will commit $150 million towards sustainable retrofit projects in low-density residential buildings across Western Canada.

Under the agreement, the CIB’s investment will represent 80 per cent of the overall capital value of the work. The timing of this investment coincides with Avenue Living’s corporate commitment to reduce greenhouse gas emissions while collectively addressing the prairie’s aging housing supply. The funds will improve the living conditions for thousands of Canadians.

Avenue Living’s multi-family residential business serves a significant segment of Canada’s lower- and middle-income workforce, known as the workforce housing rental segment. Specializing in Canada’s existing rental base, the company owns and operates more than 500 medium-density buildings, consisting of over 14,400 apartments and townhomes, in 20+ regions across Canada’s prairie provinces and the United States.

The goals of the sustainable retrofit projects include optimizing building performance, decreasing GHG emissions by more than 49 per cent, and enhancing functionality and comfort for occupants.

Projects will be delivered simultaneously and focus on renewable energy generation on-site, low carbon heating and cooling, sensors and smart thermostats, optimized air filtration, water and vapour management, and energy consumption strategies to effectively reduce in-suite utility costs for lower-income renters.

The CIB’s investment is aligned with Avenue Living’s demonstrated focus on responsible fiscal management, strong risk mitigation, and ingenuity through engineering, construction, and unique retrofit solutions.

The investment is expected to reach financial close in late 2022 with projects commencing shortly thereafter.

Endorsements:

“The CIB is an impact investor helping to develop the next generation of infrastructure which benefits Canadians. We are pleased to commit $120 million to Avenue Living and finance the modernization of aging assets. Our financing solutions assist residential real estate owners in the implementation of new retrofit projects to reduce energy use and GHG emissions.”

Ehren Cory, CEO, Canada Infrastructure Bank

“With over 90 per cent of Canada’s rental universe built before 2000, Avenue Living is excited to be a pioneer in retrofitting these older units. We are eager to set a new standard and enhance green infrastructure programs for the entire industry – for years to come. The work that we are doing with CIB represents nearly 50 per cent of Avenue Living’s overall portfolio. By 2027, we

have the vision of completing 100 per cent of our growing Canadian portfolio, continuing to positively impact the communities we serve.”

Anthony Giuffre, CEO, Avenue Living Group

Quick Facts:

To date, the CIB has committed $800 million toward energy retrofits.

The CIB’s Commercial Building Retrofit Initiative targets building retrofit projects with a minimum of 30 per cent greenhouse gas (GHG) emission reduction at the building level.
The CIB seeks to invest up to $5 billion into green infrastructure which supports climate change action and sustainable economic growth.

All CIB investments are subject to approval by its Board of Directors.

About Avenue Living Asset Management

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to over $3.7 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 750 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to over 14,400 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,827 acres of productive farmland, and more than 3 million square feet of self-storage space.

Learn More:

Canada Infrastructure Bank

Avenue Living Asset Management

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them. 

Avenue Living Communities and Zenbase Partner to Offer Flexible Payment Options

Calgary, AB, June 16, 2022 (GLOBE NEWSWIRE) – Avenue Living Communities Ltd. (“ALC”) an owner-operator of over 14,000 apartments and townhomes across Alberta, Saskatchewan, and Manitoba, today announced a partnership with Zenbase, a leader in flexible split rent payments. This service, which allows residents to pay their rent on a schedule that better suits their income cycle, can offer some relief at a time when inflation is pushing household budgets to their limits.

“We’re always looking for ways to address what’s most important to our residents,” says Anthony Giuffre, Founder and CEO of Avenue Living Group. “We know how important the social aspect of our Environmental, Social, and Corporate Governance commitments are, and we’re continuing to support our residents with compassionate options to help address their day-to-day challenges.”

Koray Can Oztekin, CEO and Founder of Zenbase agrees. “Our company partners with like-minded property management organizations who want to improve the financial health of their residents while at the same time increase on-time rent collections and eliminate operational overhead. ALC has fully leveraged the benefit of our solution, delivering financial relief and flexibility to thousands of Canadian renters.”

As inflation and interest rates both rise, Canadians are being challenged with various costs, such as food, gas, and rent. Amidst these struggles, Canadians are actively seeking financial flexibility from different service providers. Single-payment plans, locked-in schedules, and late fees continue to be a significant stressor for many renters. Zenbase offers an automated solution that aims to put an end to the key challenges around rent payment. The company’s core financial product enables flexible rent payments, allowing residents to split their monthly rent into smaller installments within a month.

Zenbase has benefits for property owners, as well, helping ensure guaranteed rent payments and reducing the time spent on rent collection. This partnership with ALC, the fastest-growing multi-family housing owner-operator in Western Canada, has the potential to reduce late rent payments by over 27 per cent while driving a positive resident experience and supporting them during difficult times.

“Zenbase is a fantastic technology solution that allows us to be more efficient on the back-end while at the same time, empowering our residents to be in control of their financial situation,” says Giuffre. “Zenbase has become an integral part of our operations and the platform delivers on our commitment to create a superior customer experience for our residents — one that provides flexible options and peace of mind.”

About Avenue Living

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to over $3.7 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 750 professionals with expertise in real estate operations, property management, and asset management to support Avenue Living’s growing portfolio. In addition to over 14,400 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,827 acres of productive farmland, and more than three (3) million square feet of self-storage space. Learn more: alamstg.wpenginepowered.com/

About Zenbase

Zenbase, a leader in flexible rent payments, is committed to economic inclusion that fosters financial empowerment for renters. Zenbase’s solutions improve the financial wellness of renters while improving operational efficiency for property managers. Rent is usually due on the first of the month but that doesn’t align with most people’s bi-monthly pay cycle. Zenbase addresses that misalignment and provides other financial tools to help level the playing field. Learn more: https://myzenbase.com/

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them. 

Mini Mall Storage’s Strategy Appeals to Investors and Customers Alike

All financial figures are in Canadian dollars 

North American self-storage business owner and operator, Mini Mall Storage Properties (‘Mini Mall’), continues to show significant growth as the company surpasses $500 million in assets under management (AUM), offering over three million square feet of storage space and 25,000 storage units across Canada and the U.S.

“Our focus on technology and people, coupled with an industry-leading approach to service, sets us apart and has allowed us to scale up swiftly and confidently,” says CEO, Adam Villard. “We couldn’t have reached this incredible milestone without the support of our company’s broad, vertically integrated platform that keeps our people closely aligned across operations, finance, accounting, legal, service teams, and more.”

Today, Mini Mall employs more than 125 professionals across seven provinces from Vancouver, B.C. to St. John, N.B., and six states including Alabama, Arkansas, Indiana, South Carolina, Mississippi, and Ohio. Their recently appointed President of U.S. Operations, Raheem Amer, brings significant storage industry experience and a keen understanding of how and where technology is best used to modernize operations across all facets of the business.

“With strong technological foundations and a continuous drive towards efficiency, we are well on the path to becoming an industry leader within the class B and C self-storage space,” says Amer. “Using sophisticated technology from pre-acquisition stages to full stage servicing generates more informed investment decisions, smoother processes, and an optimized level of customer service.”

Mini Mall’s technological improvements include coded access gate systems, state-of-the-art security cameras, and an online customer portal which helps tenants easily manage bill payments.

In February 2022, Mini Mall celebrated its two-year anniversary. Since its inception, the company has become one of the top five self-storage providers in Canada and is showing similar gains across the U.S., acquiring over one million square feet of self-storage in Q1 of this year alone.

“We are proud of the work we do to deliver modern technology, operational excellence, and better value to our customers and investors across North America,” says Villard. “With numerous investments, attention to efficient operations, and a sharp focus on recruiting local talent, we have many more exciting milestones ahead of us.”

About Mini Mall Storage Properties Trust: 

Established in 2020, Mini Mall Storage Properties has been successful in strategically acquiring pre-existing storage facilities throughout North America and making purposeful capital improvements along the way. Working in alignment with its vision of modeling state-of-the-art technology and tenant convenience, it offers affordable storage solutions equipped with unmatchable safety, security, and innovative technologies. The company prides itself on continually working to retain a healthy, diverse, and inclusive workplace.  

About Avenue Living Asset Management:   

Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to over $3.7 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 750 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to over 14,400 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 82,827 acres of productive farmland, and more than 3 million square feet of self-storage space.  

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.  

Avenue Living Closes $138 Million in Multi-Family Real Estate Acquisitions

mutli-family building in Calgary

Following another recent company announcement, Avenue Living Group (‘Avenue Living’) is pleased to announce the acquisition of three multi-family rental residential properties in Calgary, Alberta. The acquisition, which includes 764 doors worth $138 million, brings the owner-operator’s share of Calgary’s multi-family rental unit market to greater than 4.5 per cent.

The portfolio was a desirable purchase for Avenue Living due to its affordable rental rates and strategic locations in nodes around the city. The properties are positioned near green space, schools, and numerous amenities. These acquisitions present significant value-add opportunities for Avenue Living, as the organization intends to undertake strategic capital improvement projects to enhance the properties.

“We have always seen promise in the Prairies,” says Anthony Giuffre, Founder and CEO of Avenue Living. “Over 40 per cent of our 750 employees are based in Calgary. This head office is also home to our vertically integrated platform, which supports our broader regions by drawing on efficiencies created by centralizing the disciplines of finance, legal, human resources, technology, marketing, and property management.”

Avenue Living now represents over 14,300 multi-family doors under management in 22 markets, across the North American Heartland. This Heartland region has been an important area of focus for the company and spans across the Canadian Prairies into key regions of the central United States. This acquisition, supported by a recent influx of investment capital, builds on other notable transactions in 2021, with 482 units acquired in Moose Jaw, Saskatchewan and Edmonton, Alberta.

Since 2006, Avenue Living has kept its focus on assets the company is highly experienced in – low-to-medium density multi-family housing. The company actively manages its assets and consistently invests in capital improvements, sustainable practices, and technologies to create an exceptional experience for its customers, while continuing to deliver value to investors. Its flagship investment offering, the Avenue Living Real Estate Core Trust, is the first true North American workforce housing provider delivering institutional-level servicing to this demographic.

“Delivering a best-in-class customer experience is vital to our success,” says Jason Jogia, Chief Investment Officer at Avenue Living. “With housing affordability being a dire need in today’s economy, we endeavour to elevate that experience and the overall value to our customers in each market. The workforce housing demographic, made up of essential workers, has proven to be stable and resilient. As such we will continue to grow our footprint across the North American Heartland.”

ABOUT AVENUE LIVING 
Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to over $3.5 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 750 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to over 14,300 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 496,500 square feet of commercial space, 48,000 acres of productive farmland, and more than 2,700,000 square feet of self-storage space.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This may contain forward-looking statements. Readers should refer to the information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

Avenue Living Asset Management Announces Successful Equity Raise and Milestone $3.55 Billion in Assets Under Management

Calgary-based Avenue Living Asset Management, announced today its Avenue Living Real Estate Core Trust has raised $103 million in equity since December 2021. Beginning with an original expansion target offering of $60 million, the allocation of this close to a series of accretive purchases, brings the Canadian alternative asset manager from $3.25 billion to over $3.5 billion in assets under management in only two months.

According to Jason Jogia, Chief Investment Officer at Avenue Living, “this strong investor interest demonstrates confidence in Avenue Living’s uniquely designed, vertically integrated investment platform.”

“We are very excited about the timing of this accretive capital raise, and what it does for the execution of our continued growth and diversification activities. It builds on a carefully defined consolidation strategy focused on multi-family, low-to-medium density workforce housing apartment assets across the North American Heartland,” says Jogia. “These funds continue to support and accelerate further acquisitions, many of which are already in action in key regions across Canada and the United States.”

The Core Trust focuses on multi-family assets and delivers institutional-level servicing to North America’s most essential workers. The fund provides investors with an opportunity to own real assets that are not correlated to the public markets and delivers a valuable hedge against inflation.

“Right now, investors are shying away from market volatility,” says Anthony Giuffre, Avenue Living’s Founder and Chief Executive Officer. “An offering like the Core Trust is an ideal way for them to invest in real estate without actively managing the assets themselves. We are thrilled about the response to this capital raise as it will help us actualize our growing pipeline of North American acquisitions, allow us to gain significant market share, and provide investors with geographic diversification at a time when housing affordability is in high demand.”

ABOUT AVENUE LIVING
Founded on the principle of investing in the everyday, Avenue Living focuses on opportunities that are often overlooked by others, having grown to over $3.5 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 750 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to over 14,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 450,000 square feet of commercial space, 48,000 acres of productive farmland, and more than 2,700,000 square feet of self-storage space.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This communication may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

Avenue Living Makes a Series of Timely Year End Announcements

December 17, 2021

CALGARY, Alberta –Avenue Living Asset Management (the “Asset Manager”) and Avenue Living Real Estate Core Trust (the “Core Trust“) is pleased to announce that is has successfully closed on the acquisition of Avenue Living U.S. Real Estate Trust (the “U.S. Trust“). The transaction along with the execution of further pipeline opportunities in Canada and the U.S. brings an additional 1,158 multi-family units into the Core Trust expanding its total unit count to over 12,350 across 21 markets for a total AUM of C$2.4 billion – over a 10% increase since October 2021.

The transactions have been facilitated by the successful execution of its C$60 million Expansion Offering target which will enable an additional C$100 million in purchases in Q1 2022. Given the momentum and demand by investors of the Expansion Offering, the Asset Manager has officially decided to extend the offering by 60 days and increase the offering to C$85 million. The additional capital will facilitate additional identified acquisitions in Canada and the U.S. and will be executed in the first half of 2022.  Based on investor demand, additional close dates have been scheduled over the next 60 days in order to accommodate interested parties. Terms and conditions of the expansion offering remain the same.

The completion of this transaction marks the Core Trust’s first acquisition in the United States multi- family market. It is anticipated this transaction will greatly enhance access to capital for the combined entity’s U.S. operations and will provide an established platform for the efficient expansion of the Core Trust’s multi-family real estate consolidation strategy through the North American heartland – establishing what management views to be the first North American alternative real estate fund to specialize in “Workforce Housing”.

“The company has established a tax-efficient, cross-border corporate structure to hold and invest in U.S. real assets, providing our investors with the opportunity to participate passively in the consolidation of multi-family residential real estate in the United States,” says Anthony Giuffre, Avenue Living’s Founder and CEO. “We are proud to have seen the expansion offering filled so swiftly, showcasing strong support from the capital markets for our North American diversified workforce housing strategy.”

Additional Closing Dates: 

December 29th, 2021 / January 17th, 2022 / January 31st, 2022 / February 15th, 2022

About Avenue Living Asset Management:

Founded on the principles of Investing in the Everyday, the Avenue Living Group (“Avenue Living“) focuses on opportunities that are often overlooked by others, having grown to over C$3.1 billion in aggregate assets under management across four private real estate investment mandates. The Avenue Living team includes over 700 professionals with expertise in real estate operations and transactions, property management, research, investment origination, and capital markets, as well as a suite of subject matter experts to support Avenue Living’s growing portfolio of multi-family residential, commercial, agricultural land, and self-storage assets. In addition to over 13,000 multi-family units located in Canada and the United States, Avenue Living and its related entities own over 450,000 square feet of commercial space, 48,000 acres of productive farmland, and more than 2,000,000 square feet of self-storage space.

For more information or to book an interview with an ALAM executive, please contact: 

Wendy Ell, Director Stakeholder Relations at Avenue Living Group via [email protected]

Learn more about this and other investing opportunities with Avenue Living Asset Management at www.alamstg.wpenginepowered.com.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

Avenue Living Increases AUM by $1.5 Billion in 18 Months, Raising Total AUM to More Than $3 Billion

CALGARY, AB, Sept. 28, 2021 /CNW/ – Avenue Living Asset Management (Avenue Living) is pleased to announce it has surpassed $3 billion in assets under management (AUM), adding to its historic year of milestones through a series of strategic acquisitions.

In the past year and a half, Avenue Living has added $1.5 billion in assets, more than doubling its portfolio during the global pandemic. Avenue Living has proven the resilience of its business model and vertically integrated platform of shared services, which supports the organization’s multi-family residential, commercial, agricultural, and self-storage interests.

“Recent multi-family acquisitions throughout Western Canada, coupled with our ongoing U.S. acquisitions on the multi-family side and the growth of our self-storage business have contributed to this significant $3 billion milestone,” said Anthony Giuffre, Founder, Chief Executive Officer and Executive Chairman, Avenue Living Group of Companies. “We carefully choose opportunities and build infrastructure that supports everything we do – we’re champions of the everyday. The strength of our platform lies in having sound mind and management — working with the right people, both in our own offices and other areas to help us serve our investors and communities, and to continue to deliver to the Avenue Living gold standard.”

Today’s renters expect property owners and managers to provide them with a responsive customer experience and to invest in maintenance and improvements, especially in aging buildings. Many smaller operators are not able to invest the capital required to maintain operations that meet those expectations. For Avenue Living, these properties present an opportunity to consolidate fragmented industries and, through active management as well as strategic capital expenditures, provide a best-in-class experience for tenants and drive value for investors.

Avenue Living’s flagship trust, the Avenue Living Real Estate Core Trust — which acquires quality multi-family assets — is in a good place to meet the growing demand for housing affordability. Since its inception in 2006, the company has stayed true to its unique selling proposition of offering safe, quality, comfortable, and affordable rental spaces, with intentional emphasis placed on creating a positive resident experience.

“The greatest indicator of success is customer retention, and at Avenue Living, we ensure this through maintaining high customer service standards,” said Giuffre. “Historically, there’s been a certain predictability to the asset classes we invest in, and that’s what investors are looking for.”

Avenue Living takes a holistic, customer-centric approach when it comes to all aspects of its operations — from collections to leases, renewals, maintenance, capital expenditures, and expense management. The company starts with its customers’ needs and maps out the entire customer journey, from brand awareness through to advocacy. The organization has also leaned on property technology, or “prop-tech,” such as electronic leasing, to simplify basic processes for its residents and tenants, which has further enabled the efficient delivery of its value proposition.

In doing this, Avenue Living offers value to its customers — whether these customers are residents of their multi-family properties or tenants of their commercial, agricultural land or self-storage offerings.

“The pandemic truly tested the resilience of our investment thesis. Our choice of investing in ‘the everyday’ coupled with the tenacity of our customer and employee base has allowed us to achieve this milestone,” said Giuffre. “As we look ahead at the remainder of 2021 and beyond, we see a significant opportunity for the Avenue Living Group of Companies to continue to fire on all cylinders.”

About Avenue Living Asset Management:

Avenue Living Asset Management is a leading Canadian alternative asset manager with over $3 billion in assets under management and five alternative investment products. Avenue Living has amassed over 12,000 doors in Canada, making it one of Canada’s largest multi-family residential providers by serving more than 25,000 Canadians across 17 markets. Its U.S. multi-family fund exceeds $100 million in AUM and its self-storage fund has more than $300 million in AUM. Avenue Living’s agriculture fund has expanded its acres under management to more than 48,000, raising its AUM to more than $90 million.

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

Avenue Living Raises Their AUM to $2.8 Billion Through a $275 Million Edmonton Acquisition

We are proud to announce that our AUM has reached $2.8 billion. CEO and Founder, Anthony Giuffre discusses the thorough investment strategy, vertically integrated platform, and the record-breaking $275 million in acquisitions within one week that allowed Avenue Living to achieve this significant accomplishment.

We humbly thank all of our stakeholders including our Avenue Living team members, residents, investors and lenders, that helped us achieve this milestone. We couldn’t have done it without your ongoing support.

Read more on Cision:

https://www.newswire.ca/news-releases/avenue-living-raises-their-aum-to-2-8-billion-through-a-275-million-edmonton-acquisition-851977014.html

This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy, any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on our website at www.alamstg.wpenginepowered.com for additional information regarding forward-looking statements and certain risks associated with them.

Avenue Living Expands to USA

Calgary-based Avenue Living Asset Management is taking its successful model of acquiring class B and C multi-family properties in Western Canada and has launched the Avenue Living U.S. Real Estate Trust, the firm’s first United States focused investment vehicle.

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