About The Company
COMPANY BACKGROUND
Avenue North, LLC was founded in 2011 and seeks to develop new multifamily communities and also acquire Value-Add income property with an emphasis on Multifamily Investment. We analyze under valued assets in markets with strong demographic trends and positive secular growth. The company has obtained Superior Returns by acquiring properties that require rebranding, transformation through renovation, and intense asset management, and managing ground-up development. Avenue North focuses on place-making to achieve above market rents. Through thoughtful renovations and expert marketing, tailored to each property and the context of the neighboring community, we strive for the best performance from each asset.
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, closing costs and for-sale housing prices continue to rise, along with other factors impacting home ownership. We believe renters want to save money now, more than ever, and are actively seeking affordable housing options such as brand new multifamily homes or renovated class B/C communities, affording such investments steady rent growth and profitability for our investors.
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 over $200 million of multifamily assets, and has a development pipeline that exceeds $200 million.
Ryan was awarded the top 35 entrepreneurs under age 35 by the Arizona Republic. He is a member of the Arizona Multihousing Association, the Urban Land Institute, Real Estate Investment Advisory Council, Vistage, and Strategic Coach.
Ryan graduated with a Mechanical Engineering degree from the University of Arizona and a Masters in Business Administration from the University of Southern California.
Fil Hirohata has had a consistent 30+ year history of upward growth and management responsibilities within the highly competitive single family subdivision space.
Fil previously worked in various leadership roles with KB Homes, Beazer, Meritage, and Richmond American Homes and has delivered over ten thousand homes and 40 master planned communities throughout Arizona.
Fil attended Mesa Community College and Arizona State University on golf scholarships. He is a Licensed Real Estate Broker and previously held an Arizona ROC General Engineering license.
Fil Hirohata
Operations ManagerFil Hirohata
Operations ManagerFil Hirohata has had a consistent 30+ year history of upward growth and management responsibilities within the highly competitive single family subdivision space.
Fil previously worked in various leadership roles with KB Homes, Beazer, Meritage, and Richmond American Homes and has delivered over ten thousand homes and 40 master planned communities throughout Arizona.
Fil attended Mesa Community College and Arizona State University on golf scholarships. He is a Licensed Real Estate Broker and previously held an Arizona ROC General Engineering license.
Jonathan Joseph
Vice President of ConstructionJonathan Joseph has over 10 years of experience in the construction industry. He has worked nationwide to complete projects totaling over $150 million with StreetLights Residential and dck worldwide. While his primary experience comes in the multifamily sector, he also has experience in hospitality and commercial construction projects.
Jonathan graduated with both an Architectural Engineering degree and a Construction Management degree from New England Institute of Technology in East Greenwich, RI and a Master’s in Real Estate Development from Arizona State University in Tempe, AZ in 2019.
Jonathan has had the honor to call each project location his home which includes Rhode Island, Guantanamo Bay, Houston, San Francisco, and Phoenix. He is currently an active member of the Urban Land Institute and NAOIP organizations and stays involved with the MRED community by being an alumni committee member.
James Emert is part of the acquisitions and asset management team for Avenue North, joining in 2020.
Prior to Avenue North, James worked in Acquisitions for CVG Properties, underwriting over $1B in value-add multifamily properties in Arizona, Utah, and California. James has also held positions for Everest Healthcare Properties, VEREIT (NYSE: VER), Davlyn Investments, and Yardi Matrix.
James graduated from University of Arizona with a degree in Economics and a Master’s in Finance degree from University of San Diego. He is an active member of the Arizona ULI Young Leaders Group and a CFA level II candidate.
James Emert
Acquisitions and Asset ManagerJames Emert
Acquisitions and Asset ManagerJames Emert is part of the acquisitions and asset management team for Avenue North, joining in 2020.
Prior to Avenue North, James worked in Acquisitions for CVG Properties, underwriting over $1B in value-add multifamily properties in Arizona, Utah, and California. James has also held positions for Everest Healthcare Properties, VEREIT (NYSE: VER), Davlyn Investments, and Yardi Matrix.
James graduated from University of Arizona with a degree in Economics and a Master’s in Finance degree from University of San Diego. He is an active member of the Arizona ULI Young Leaders Group and a CFA level II candidate.