Avanath Capital Management Becomes One of the First Affordable Housing Owners to Achieve Well Health-safety Rating Across Its Nationwide Portfolio
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.
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