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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 both 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.”

$ 0 B+
Assets under management

0 +
Properties

0
Multi-family Suites

0 %
Annualized return since inception* (class f)
$ 0 B+
Assets under management

0 +
Properties

0
Multi-family units

0 %
Annualized return since inception* (Class F)
* Inception 2017
Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023

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 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. There is an additional focus on long-term portfolio stability through active sales and leasing, responsive services, and strategic capital improvements.

QuadReal Calgary Glenmore Heights

Fund Returns

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2017

2018

2019

2020

2021

2022

2023

CALENDAR RETURNS


Class F

2020

8.55%

2021

13.16%

2022

13.38%

2023

12.38%

Annualized Returns


Class F

1 Year

12.38%

3 year

12.97%

5 year

11.33%

SINCE Inception

10.55%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Fund Returns

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2017

2018

2019

2020

2021

2022

2023

CALENDAR RETURNS


Class F

2020

8.55%

2021

13.16%

2022

13.38%

2023

12.38%

Annualized Returns


Class F

1 Year

12.38%

3 year

12.97%

5 year

11.33%

Since Inception

10.55%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Fund Returns

C$180,000

C$160,000

C$140,000

C$120,000

C$100,000

2017

2018

2019

2020

2021

2022

2023

CALENDAR RETURNS


Class F

2020

8.55%

2021

13.16%

2022

13.38%

2023

12.38%

Annualized Returns


Class F

1 Year

12.38%

3 year

12.97%

5 year

11.33%

Inception

10.55%

Note: Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Key Facts

Note:  Returns net of fees, inclusive of reinvestment of distributions. Figures presented for the year ended December 31, 2023.

Case Study

At acquisition

Huntington Before

Opportunity

In June 2021, the Avenue Living Core Trust acquired the Huntington portfolio — comprised of Huntington Hills Coach Homes, Huntington Court Coachhomes, and Huntington Townhomes — a 361-unit community in Edmonton, AB. We identified opportunities for maximizing returns through optimizing rent growth and implementing expense reduction strategies via active management and strategic capital investments.

Today

Huntington After

What We Did

Since acquiring the properties, we have invested over $6.2 million in the Huntington properties. In 2023, over 11% of the units underwent significant upgrades, totaling approximately $190,000 in investments (as of November 2023). The enhanced value proposition of the asset has fueled additional revenue growth through increased rents and ancillary fees, paired with cost-reduction measures and strategic renovations.

Case Study

At acquisition

house

Opportunity

In January 2022, we purchased Edinburgh Place, a 96-unit townhouse community in Regina, SK. The property presented an opportunity for occupancy growth, market rent growth, and ancillary growth. By implementing value-add capital projects and enhancing services, we determined we could attract incoming migrants within the workforce housing demographic to occupy vacant units at market rental rates.

Today

house 2

What We Did

In the year following the acquisition, we replaced exterior siding, upgraded stairwells, and repaired sidewalks. Implementing the Avenue Living service standards, in addition to undertaking value-add projects, supported rent growth that exceeded prevalent market conditions.

Key Acquisitions

Interactive Map

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key acquisitions.

Our Funds

Core
Trust

Mini Mall Storage
Properties Trust

Farmland

Opportunity
Trust

Our Funds

Core
Trust

Mini Mall Storage
Properties Trust

Farmland

Opportunity
Trust