As we look back on 2024, it’s clear that our focus on same-door performance has been a key driver behind a record-breaking year. Despite the challenges presented by broader macro-economic volatility, Avenue Living’s operating construct — coupled with unprecedented demand and a structural supply deficit — drove strong growth in same-door operating performance. As a result of improved asset performance, 2024 saw management announce an increase in the distribution per unit across all Trust Unit classes. Our success is a result of a deep commitment to continually raising the bar — ensuring every suite meets high standards and is available to support the rising demand. With Alberta and Saskatchewan emerging as the hottest real estate markets in Canada, we’re well-positioned for continued success, especially as interest rates begin to decline. Looking ahead to 2025, we are confident in our ability to build on this momentum and expand our footprint in key markets.
Avenue Living Real Estate Core Trust
Avenue Living Real Estate Core Trust (Core Trust) is a private real estate investment trust that provides exposure to multi-family residential rental properties across 20+ markets in North America through the Core Trust’s investments in Avenue Living (2014) LP. With assets in Canada and the United States, Avenue Living has strategically positioned itself to be the premier North American owner-operator of residential assets that caters to a niche multi-family residential market called “workforce housing.”
Gabriel Millard
Managing Partner – Equity Capital Markets
* Inception 2017
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2024
Investment Strategy
Since the first purchase of 24 doors in Brooks, Alberta, Avenue Living has scaled rapidly by applying its investment strategy of acquiring assets below replacement cost and finding value in markets that others overlook. Avenue Living seeks to acquire multi-family assets across Canada and the United States with attractive operating characteristics that may require some capital upgrades. We focus on long-term portfolio stability through active sales and leasing, responsive services, and strategic capital improvements.
Fund Returns
C$180,000
C$160,000
C$140,000
C$120,000
C$100,000
2017
2018
2019
2020
2021
2022
2023
2024
CALENDAR RETURNS
0000
Class F
2021
13.16%
2022
13.38%
2023
12.38%
2024
13.94%
Annualized Returns
Class F
1 Year
13.94%
3 year
13.23%
5 year
12.27%
SINCE Inception
11.01%
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2024.
Fund Returns
C$180,000
C$160,000
C$140,000
C$120,000
C$100,000
2017
2018
2019
2020
2021
2022
2023
2024
CALENDAR RETURNS
Class F
2021
13.16%
2022
13.38%
2023
12.38%
2024
13.94%
Annualized Returns
Class F
1 Year
13.94%
3 year
13.23%
5 year
12.27%
Since Inception
11.01%
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2024.
Fund Returns
C$180,000
C$160,000
C$140,000
C$120,000
C$100,000
2017
2018
2019
2020
2021
2022
2023
2024
CALENDAR RETURNS
Class F
2021
13.16%
2022
13.38%
2023
12.38%
2024
13.94%
Annualized Returns
Class F
1 Year
13.94%
3 year
13.23%
5 year
12.27%
Inception
11.01%
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2024.
|
CALENDAR RETURNS
|
||||
|---|---|---|---|---|
|
4
|
2021
|
2022
|
2023
|
2024
|
|
Class F
|
13.16%
|
13.38%
|
12.38%
|
X%
|
|
CALENDAR RETURNS
|
||||
|---|---|---|---|---|
|
|
1 Year
|
3 Year
|
5 Year
|
Since Inception
|
|
Class F
|
13.16%
|
13.38%
|
12.38%
|
10.55%
|
Key Facts
- Product Type
- Mutual fund trust
- Target total return (10 Year)
- 8% - 12% per annum (net of fees)
- Registered Eligible
- Yes
- DRIP
- 2% Discount to unit NAV
- Targets Distributions
- $0.72 per unit per annum (Class F)
- Purchases
- Monthly
- Redemptions
- Monthly
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented as at December 31, 2024.
Property Enhancements
Kenwood manor | Saskatoon, SK
Before
AFTER
Freshly painted interior
Playground installation
Suite renovations
Clover Meadows | Yorkton, SK
Before
AFTER
Freshly painted interior
Upgraded flooring
Renovated common areas
Key Acquisitions
Interactive Map
Hover over numbers to view
key acquisitions.