With the beginning of the New Year and our projection of strong growth already underway, Avenue Living Asset Management has created a new role dedicated to identifying and mitigating risk within the Avenue Living platform. The new Senior Vice President Risk Management & Finance will oversee the risk management framework across the organization, both financially and operationally.
After substantial growth in 2018, which saw the number of multi-family units Avenue Living owns and operates increase to 8,000, this new position is prudent as part of the evolution of the Avenue Living platform. This role demonstrates our continued dedication to optimizing our practices and processes for our stakeholders.
With $1.2 Billion assets under management, Avenue Living is forecasting continued strong momentum with plans to acquire another 3,000 units in 2019. Last year, Avenue Living initiated an equity raise with a target of $75 Million. By December 2018, the raise had surpassed expectations by more than double, having raised $180 Million.
We are pleased to announce James Jung, CFA, FRM, CPA, CMA as our new Senior Vice President Risk Management & Finance. His expertise and proficiency in the Financial, Investment & Risk Management space is an excellent fit for the Avenue Living organization, enhancing our commitment to our investors. Mr. Jung’s robust background includes holding senior positions with such notables as DBRS Limited, Home Capital Group Inc., RBC Capital Markets, CIBC Treasury and most recently Pinnacle Wealth Brokers, one of Canada’s largest Exempt Market Dealers. He also serves as an Instructor of Corporate Finance at the University of Toronto since 2006.
Avenue Living Asset Management welcomes James Jung effective Jan 21, 2019.