About the Company
COMPANY BACKGROUND
Avenue North, LLC was founded in 2011 and seeks to develop, build, and acquire multifamily communities in the southwestern United States. We integrate experience in multifamily design and operations to maximize value for our investors. The company has obtained Superior Returns by acquiring properties that require rebranding, transformation through renovations, asset management, and ground-up development. Avenue North focuses on place-making, thoughtful renovations, scalable construction processes, and transparent investor communication to fulfill our purpose – To Inspire through Exceptional Housing.
WHY MULTIFAMILY?
Home ownership in the US has dropped to levels not seen since the 1960’s, and continues to steadily decline as down payments, student debt burdens, and for-sale housing prices continue to rise, along with other factors impacting home ownership. We believe residents are actively seeking affordable housing options, and we provide exceptional housing options through new multifamily homes and renovated communities.
MOBILITY
Allows renters great flexibility over single family housing
INFILL
Typically close to jobs, restaurants, and transportation corridors
DEMOGRAPHICS
Millennials delaying marriage and single family purchases, seniors downsizing.
STUDENT DEBT BURDEN
Record high loans limit buying power for single family housing borrowers
HOUSING DOWN PAYMENT
Does not require large buyer cash down payments
TANGIBLE
Housing can’t be outsourced, risks that affect other property types
TECHNOLOGY
Accretive to the sector but detrimental to others (e.g. Amazon impact on Retail)
INFLATION HEDGE
Short-term leases allow for quick adjustments when rents increase
DISCOUNT
B’s can be purchased at discounts to replacement cost
LEADERSHIP
Ryan Hartman
Chief Vision OfficerRyan founded the company Avenue North, LLC in 2011. The company has acquired and sold 1,700 value-add apartment units exceeding $200 million of assets across Colorado, Nevada, and Arizona. In 2018, the company began acquiring and developing land across multiple states and has a construction pipeline that exceeds $200 million.
Avenue North Construction, LLC launched in 2021 to vertically integrate development and construction, and is a fee-build licensed general contractor for third party developers. Ryan is a member of the Arizona Multihousing Association, the Urban Land Institute, Real Estate Investment Advisory Council, Vistage, Strategic Coach, and Tiger 21.
He graduated with a Mechanical Engineering degree from the University of Arizona and a Masters in Business Administration from the University of Southern California.