Throughout 2020, the COVID-19 pandemic put our business model to the test. Our strategy has shown incredible resilience despite unprecedented economic uncertainty.
CEO, Anthony Giuffre joins Greg Bonnell to discuss how Avenue Living’s commitment to investing in the everyday combined with a vertically integrated platform gives the company a competitive advantage within the multi-family real estate industry. These key factors have allowed Avenue Living to thrive while facing last year’s unique challenges head-on.
“Low-density class B and C assets were insulated from much of the instability that affected other asset classes last year, putting us in an opportune position as we enter 2021. Last year, we saw our collection rates increase 2%, bringing our monthly collections to 97%. We were able to keep these high monthly averages thanks to the subset of the multi-family market we invest in. Our focus on workforce housing — properties that house essential workers, the backbone of the Canadian economy — has proven to be a resilient business model,” said Giuffre.
Despite national economic setbacks, we are well-positioned for success as we witness more Canadians flocking to affordable housing. In 2021, we will maintain the strategy that has guided us through the pandemic, embracing operational changes that were key factors in our 2020 accomplishments. Our business remains stable and we are prepared for ongoing growth.
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.
