Real Estate Strategy

Overview

The Avenue Real Estate Strategy targets U.S.-focused opportunistic real estate investments. The strategy concentrates on residential, office, retail, industrial and hotel properties in major U.S. urban centers and their surrounding areas. The Avenue Real Estate Strategy makes equity investments, on a direct basis and through joint ventures, and also pursues real estate debt opportunities

The Avenue Real Estate Strategy generally seeks to:

  • Employ a distressed-focused approach to unlock value in all transactions
  • Identify situations that present compelling investment opportunities rather than trends or macro-level market themes
  • Acquire highly-functional assets at a compelling basis that mitigate down-side exposure
  • Implement an “activist” approach to operate investments and execute business plans
  • Exit investments opportunistically to maximize total return

As of June 30, 2017, the firm's assets under management allocated to the Avenue Real Estate Strategy are estimated to be approximately $101 million.

Approach

Avenue’s experienced investment professionals focus on originating real estate investments by combining entrepreneurial deal sourcing and institutional-quality underwriting. Avenue’s extensive network of long-standing industry relationships allows the firm to target direct interests in real property, joint ventures, mortgage loans and mezzanine debt, and interests in public or private real estate investment trusts, pooled funds or other real estate-related companies. In certain instances, Avenue may also provide liquidity to recapitalizations and situations that allow for turnaround opportunities. The strategy seeks to deploy capital in accordance with the principles above throughout various points in the investment cycle.

Senior Management Team

The Avenue Real Estate Strategy is managed by a team of senior investment professionals who have spent virtually their entire careers in the distressed debt and securities markets or real estate industry. The senior management team includes:

Marc LasryChairman, Chief Executive Officer and Co-Founder
Sonia GardnerPresident, Managing Partner and Co-Founder
Ed GellertSenior Portfolio Manager - Avenue Real Estate Strategy
Robert GellertPortfolio Manager - Avenue Real Estate Strategy