Avenue Living Closes Senior Unsecured Debenture Offering for $350 Million
Calgary, AB, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Avenue Living (2014) LP (“Avenue Living”) announced today that it has closed its previously announced offering (the “Offering”) of $350 million aggregate principal amount of Series B senior unsecured debentures (the “Debentures”).
The Debentures were issued at par and bear interest at a fixed annual rate of 4.520% per annum, payable in equal semi-annual instalments in arrears on March 25 and September 25 of each year, commencing on March 25, 2026, and maturing on September 25, 2028. The net proceeds from the Offering will be used to refinance existing indebtedness and for general corporate purposes. The Debentures are rated BBB low with a Stable Trend by Morningstar DBRS.
Avenue Living’s second bond issuance in 2025, which was 3x oversubscribed, brought its total annual funding in the Canadian Debt Capital Markets to approximately $600 million. The Offering also increased the breadth of Avenue Living’s bondholder pool with over 50% of buyers being new investors.
“This successful offering reflects the confidence investors have in our platform and our long-term strategy as an owner and operator of real estate assets,” said Anthony Giuffre, Founder and Chief Executive Officer of Avenue Living. “As we approach our firm’s 20th year anniversary, we remain focused on disciplined growth, operational excellence, and delivering sustainable value for our stakeholders.”
“Our capital markets program continues to mature and deepen its reach,” added Jason Jogia, Co-Founder and Chief Investment Officer of Avenue Living. “The strong trading performance, particularly from new institutional investors, underscores the strength of our credit profile. The positive acceptance of Avenue Living across the fixed income investor universe positions us well for future issuances.”
The Debentures were offered on a private placement basis in each of the provinces of Canada through a syndicate of agents led by RBC Capital Markets and including BMO Capital Markets.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures in any jurisdiction. The Debentures have not been approved or disapproved by any regulatory authority. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States, or to or for the account of United States persons.
About Avenue Living Group
Avenue Living Group is a property owner-operator with over $8.5 billion in assets under management across more than 50 markets in Canada and the United States. The firm’s multi-family division manages more than 21,800 doors throughout the North American heartland. Its self-storage fund owns and operates over 10 million square feet of self-storage space, while its agriculture fund oversees 50,000 acres of farmland. Avenue Living Group focuses on long-term investments in asset classes that impact the lives of everyday North Americans. 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.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking statements with respect to Avenue Living including its long term strategy, future bond issuances, and the intended use of the net proceeds of the Offering. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other relevant factors. 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.
For more information, please contact:
Tammy Cho
Chief Communications and Marketing Officer
tcho@avenueliving.ca
Tammy Cho Avenue Living tcho@avenueliving.ca
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