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Avanath Nabs 553-Unit Affordable Portfolio

IRVINE, CA— has learned exclusively that locally based investment firm Avanath Capital Management has acquired a two-property, 553-unit affordable-housing portfolio in Orlando and Cary, NC, for $45.9 million in an off-market transaction. The portfolio was acquired through Avanath Affordable Housing II LLC, a fund with $200 million of equity commitments. Avanath tells that the seller was a California-based private investor.

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