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Stock impact report

Matt Ferrari leaves TruAmerica to start new apartment firm [Yahoo! Finance]

AvalonBay Communities, Inc. (AVB) 
Last avalonbay communities, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.avalonbay.com
Company Research Source: Yahoo! Finance
Dive Brief: Matt Ferrari has left TruAmerica to launch PXV Multifamily, a private multifamily investment and operating firm that will target a broad spectrum of assets from middle-market value-add properties to institutional quality opportunities, according to a press release shared with Multifamily Dive. Funds from BroadVail Capital Partners will capitalize PXV Multifamily. The partnership marks the Houston-based real estate private equity firm's entrance into conventional multifamily. It has closed $4 billion in the industrial, self-storage and affordable housing sectors. PXV aims to build more than $2 billion in assets under management over the next 36 months by acquiring properties directly with its own capital and through joint ventures with limited partners, according to the press release. The Miami-based firm will focus initially on individual assets and portfolios made up of 1980s and newer assets with 150 units or more in major markets across the U.S. Dive Insight: Show less Read more
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