Avenue Living Completes $250 Million Inaugural Senior Unsecured Notes Offering
Summary
The Notes were offered on a private placement basis in each of the provinces of Canada, led by RBC Capital Markets.This has been an exciting time for Avenue Living, building on having been assigned an investment grade rating from Morningstar DBRS at BBB (low) with a Stable trend. We are very pleased to announce this Offering, which was met with strong and broad demand from institutional investors, said Jason Jogia, Co-Founder and Chief Investment Officer. As the only Canadian investment-grade multi-family entity rated by Morningstar DBRS, our differentiated financing strategy will provide flexibility to manage our property portfolio and additional access to competitive sources of capital.The Notes will bear interest at a fixed annual rate of 5.109% per annum, payable in equal semi-annual instalments in arrears on May 12 and November 12 in each year, commencing on November 12, 2025, until maturity, unless redeemed at an earlier date. The firm has strategically built an institutional, proprietary platform that sets it apart from its peers, enabling a customer-centric management model that drives value for its customers, investors, and employees.This press release may contain forward-looking statements with respect to Avenue Living, including the intended use of the net proceeds of the Offering. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Avenue Living has no obligation to update such statements.A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.