Avanath Capital Management Becomes One of the First Affordable Housing Owners to Achieve Well Health-safety Rating Across Its Nationwide Portfolio
Rating demonstrates Avanath’s commitment to ESG principles and delivering safer, affordable communities that can improve residents’ lives
Northampton, MA --News Direct-- International WELL Building Institute
IRVINE, Calif. and NEW YORK, February 1, 2022 /3BL Media/ - Avanath Capital Management, LLC, a private real estate investment manager, and the International WELL Building Institute (IWBI), the leading authority for transforming health and well-being with its people-first approach to buildings, organizations and communities, announced today that Avanath has become one of the first affordable housing owners to achieve the WELL Health-Safety Rating for Facility Operations and Management across its portfolio of more than 13,500 multifamily residential units nationwide.
The rating demonstrates Avanath’s commitment to environmental, social and governance (ESG) principles by delivering affordable and workforce housing that prioritizes residents’ health, safety, and well-being across the U.S. Last year, Avanath launched its ESG platform, Amplify, with the goal to extend Avanath’s authentic social commitments and programs, building an environmental, social and governance program. Achieving the WELL Health-Safety Rating at scale was a key step forward advancing that mission to create a well-rounded program.
“One of our biggest goals as an affordable housing owner is to enhance the lives of our residents and deliver quality lifestyles within reach,” says David Natt, Senior Vice President of Asset Management at Avanath Capital Management. “We do this through a variety of ways, including our commitment to ESG and social programs for our residents. This focus on health and safety is a natural progression of this mission and we are proud to be the first affordable housing owner to achieve this rating.”
The WELL Health-Safety Rating is an evidence-based, third-party verified rating for all new and existing building and space types to help advance health and well-being through science-backed policies, procedures, and operational protocols.
Avanath Capital Management owns affordable and workforce housing units across 13 states and 53 cities totaling more than $2.6 billion in assets under management.
“The health and safety of our residents is a top priority for us and one of the major reasons we decided to roll this initiative out portfolio-wide,” explains Natt. “We’ve always placed a focus on health, even prior to the pandemic.”
Through Avanath’s Activate program, which launched in early 2019, the company converted underutilized spaces within some senior communities and transformed them into state-of-the-art wellness facilities that include screening rooms complete with exam tables, medical supplies, medical exam equipment and other necessary components that allow providers to administer health exams for senior residents. Along with the program, it also provides residents with free cholesterol checks, flu vaccines, health and wellness classes and fitness classes, among many other programs.
According to Natt, “We worked closely with RE Tech Advisors, a company that provides ESG consulting services to build out Amplify, Avanath’s ESG Platform. RE Tech was instrumental in helping us achieve the WELL Health-Safety Rating by helping us implement and reinforce policies and best practices containing health and safety measures including indoor air quality management, cleaning and sanitation procedures, emergency preparedness plans, and health services, all of which are designed to enhance the long-term health and safety of our residents and on-site employees.”
“Avanath has delivered health and well-being benefits to residents across its entire portfolio of affordable and workforce housing,” said Rachel Hodgdon, President and CEO of IWBI. “Our homes are the most important place in our lives, and Avanath is demonstrating leadership with this commitment to making sure the benefits of WELL are readily available to everyone in their communities.”
Each of Avanath’s apartment communities has met the feature specific requirements and achieved WELL Health-Safety Rating following the successful completion of third-party policy review and verification.
About Avanath Capital ManagementAvanath 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 from its investments. 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 guided investment funds in defining growth opportunities for our investors. Avanath professionals have real estate operating expertise and long-standing relationships with strong local, regional, and national sponsors that can access investment opportunities aligned with Avanath's initiatives. More information is available at www.avanath.com.
About the International WELL Building InstituteThe International WELL Building Institute (IWBI) is a public benefit corporation and the world's leading organization focused on deploying people first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and the WELL Health-Safety Rating, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and wellbeing everywhere. More information on WELL can be found here.
International WELL Building Institute pbc is a wholly owned subsidiary of Delos Living LLC. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Portfolio Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Health-Equity, WELL Performance Rated, WELL Enterprise Provider, WELL EP, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute in the United States and other countries.
About RE Tech AdvisorsRE Tech Advisors, LLC, a Blackstone company, provides consulting services to decarbonize and improve ESG performance of investment portfolios. RE Tech’s interdisciplinary team of energy, sustainability and technical experts helps clients unlock value, fulfill fiduciary and investment objectives, and demonstrate leadership. For commercial real estate owners, private equity investors, manufacturers, corporations, and national and local governments, RE Tech designs and deploys award-winning ESG strategies, net zero master plans, and engineering services to create alpha, improve asset and fund performance, and comply with the evolving landscape of regulation.
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**Per the regulatory ADV filing as of March 31, 2021, Avanath Capital Management has $2.6 billion in AUM.
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