Avanath to Use Dealpath to Deploy $760 Million Mission-Driven Equity Fund
Dealpath, the premier cloud-based deal management platform digitizing the real estate industry with purpose-built solutions for deal management and collaboration, has been selected by Avanath, a real estate investor focusing on the acquisition, rejuvenation and asset management of affordable, workforce and value-oriented multifamily properties, as the platform to drive Avanth’s national, mission-driven investment strategy with efficiency, collaboration and transparency.
In 2020, Avanath closed an equity fund of $760 million, which the firm expects to deploy by the end of 2022. As a result, Avanath identified a need to streamline their portfolio and deal workflows, choosing and implementing Dealpath as the essential solution for operating at scale with the speed and proficiency to deliver optimal risk-adjusted returns. In just the first year working with Dealpath, Avanath has already realized major benefits in the number of deals analyzed, more efficient teamwork and time saved.
“Dealpath is aligned with how our investment team works,” said Connor Mortland, Director of Acquisitions, Avanath Capital. “From a reporting aspect, it makes our lives much easier. You just have to click a button. I also really value the tasks checklists that keep our team moving forward across the transaction lifecycle. We save an average of five hours per week per team member.”
Cumulatively across Avanath’s investment division, the power of Dealpath’s data and collaborative capabilities are allowing their team to evaluate more properties and deliver value for investors and potential tenants. In addition to streamlined task management and instant reporting capabilities, Avanath is able to tour more properties in new geographical and market areas, accelerating the growth of the firm’s footprint through the more strategic and decisive deployment of investment capital.
“Dealpath worked with our team to report data and properties in our preferred format and template, so we’re able to summarize information transparently for our executives and our entire team quickly,” said Mortland. “For a national portfolio, this is crucial. We can have a regional manager tour a property in Orlando and upload photos and a summary through Dealpath for our whole team to analyze. The speed and customization are incredibly helpful for growth.”
As a mission-driven firm, this scalability is key for Avanath as they continue to expand their portfolio to serve one of the largest rental segments in the U.S. The firm provides high-quality, affordably priced housing for residents who make between $30,000 to $80,000 per year. The affordability crisis continues to remain across the nation, so being able to provide much-needed housing that is also accessible to renters represents a significant opportunity to have a social and cultural impact on these communities while also creating an opportunity to deliver returns for investors. With approximately 85 percent of Avanath’s communities being rent-regulated, this comes with specific regulatory requirements for owners. Dealpath’s deal management solution ensures that Avanath’s team always has agreements, due diligence and compliance documentation aligned on every deal.
“Avanath is a great example of how Dealpath empowers firms by delivering solutions for inefficiencies that teams may have been struggling with for years,” said Mike Sroka, CEO and Co-Founder, Dealpath. “We are proud to work with Avanath and look forward to continuing to identify new areas where streamlined collaboration and deal management can help their firm.”
“We’ve primarily been focused on acquisitions,” said Mortland, “but in a short time, Dealpath has been so well-received across the board that we are looking to expand its use into dispositions and financing as we digitize more of our operations for market efficiency. We view Dealpath as a partner in our journey.”
About Avanath Capital Management
Avanath Capital Management is a privately-held, vertically integrated investment firm managing real estate and real estate-related investments generating risk-adjusted returns through current income and capital appreciation. The firm is also a Registered Investment Adviser and provides property management services through Avanath Realty, Inc.
Founded by Daryl J. Carter, the Avanath management team averages 25 years of experience and has successfully guided investment funds in defining growth opportunities and delivering past returns that have performed on par with or surpassed returns in industry benchmark(s). Avanath professionals have real estate operating expertise and long-standing relationships with strong local, regional and national sponsors that provide access to investment opportunities consistent with Avanath's initiatives. More information is available at www.avanath.com.
About Dealpath
Dealpath is the only cloud-based deal management platform built specifically for real estate. Investment and development firms leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics and collaborative workflows--driving maximum performance from pipeline to project management. Founded in 2014, Dealpath has supported over $6 trillion in transactions with leading institutions across the world. For more information please visit our website at www.dealpath.com and follow Dealpath on Linkedin at https://www.linkedin.com/company/dealpath/.
