Avenir Senior Living Inc. Launches on DealSquare

Private-pay seniors residence operator designs, builds, owns, and manages luxurious retirement communities across North America


TORONTO, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Avenir Senior Living Inc. (“Avenir”), a full-service developer, owner, and operator of luxurious private-pay memory care communities and seniors residences, today announced the launch of its listing on DealSquare (ticker: “AVENR”).

Founded in 2012, Avenir currently owns and operates an attractive real estate portfolio of seven private-pay memory care communities specializing in seniors living and memory care services, located in Arizona, Arkansas, Nevada, and Tennessee. With an average age of seven years, these memory care communities stand out from the competition because of their unique and intentionally designed common areas, resident-centered care planning and activities, and the cornerstone of their service program called the Cognitive Lifestyle. Supported by an employee base of more than 400 dedicated professionals across the United States, Avenir’s memory care communities are designed to provide 24-hour care and support to ensure safety and quality of life for seniors with Alzheimer’s disease, dementia, and other cognitive impairments. Avenir also manages and operates seniors residences for third-party owners in Aiken and Lexington, South Carolina and Nanaimo, British Columbia including two external management contracts for seniors living and memory care communities currently under construction in Los Angeles, California and Victoria, British Columbia.

Avenir intends to pay investors stable quarterly cash dividends, initially set at US$0.525. Based on an exchange rate of US$1.00 = $1.3333, this represents a targeted annual yield of 7.0% on the offering price of $10.00 per Class A Common Share.

With capital raised from the DealSquare listing, Avenir will continue to pursue its aggressive expansion strategy focused on development, accretive acquisitions, and third-party property management contracts for seniors apartments, independent and assisted living, and memory care residences across North America.

There is a transformational shift in the demand towards seniors housing and personal care, to provide elderly North Americans with an attractive range of housing needs and health care services,” commented David Craik, Founder and CEO of Avenir, who has over 40 years of real estate development, design, and operations experience in the seniors housing industry. These options continue to evolve as the needs, preferences, and demands of seniors and their families change.

On average, baby boomers (post-World War II babies) began turning 65 years old in 2011 and by 2030, the remainder will reach age 65 and account for approximately 21% of the total United States population. By 2035, the 65+ age group is estimated to be larger than the population under age 18 to comprise of over 78 million people compared to 76.7 million under the age of 18. In Canada, the population of seniors age 75 years and older, is expected to grow by 105.2% between 2012 and 2032, while the total population of Canada is only expected to increase by 21.6% over the same period.

The seniors housing and care options targeted by Avenir are aimed at individuals with some financial independence, who are over 55 years of age and with little to no support, and care to seniors who are over 75 years of age and heavily dependent upon a growing need for medical support, customized health services, and greater personal care, continued Craik.

We are thrilled to have Avenir on DealSquare,” added Peter-Paul Van Hoeken, Managing Director of DealSquare. “With the ageing population and the increasing need for seniors residences and care, Avenir is tapping a rapidly growing market. The listing on DealSquare enables dealers, advisors and portfolio managers, and their client investors, easy access to Avenir’s private placement investment opportunity.”

DealSquare is an online private placement platform for dealers, investment advisors, and capital raisers. The centralized platform gives registered users the ability to efficiently find, analyze, share, and subscribe to private market deals. DealSquare offers a fully digital and automated process, allowing capital raisers to publish their private placement opportunities, dealers to complete their due diligence, and advisors and investors to electronically subscribe to a deal. Powered by NEO technology, DealSquare is a joint initiative between Silver Maple Ventures and NEO to make private markets better and more accessible. Exempt securities are seamlessly integrated into client accounts and dealer back office systems using NEO technology.

Avenir is well positioned to grow its seniors real estate portfolio in the years ahead,” remarked Jos Schmitt, President and CEO of NEO. “DealSquare, powered by NEO, provides Avenir with a centralized platform to access the capital and enhanced exposure they need in order to scale up, while making a unique, and otherwise inaccessible opportunity to invest in a private real estate portfolio of attractive seniors residences available to investors.”

To view Avenir’s private placement offering on DealSquare, click here. The Avenir ticker is available under AVENR on existing advisor order entry systems.

About Avenir

Avenir is a full-service developer, owner and operator of private-pay memory care communities and seniors’ residences, headquartered in Scottsdale, Arizona and Victoria, British Columbia. The company owns and operates seven income producing memory care communities specializing in memory care support and private health care service programs for seniors with Alzheimer’s disease, dementia and other cognitive impairments. Avenir’s real estate portfolio of memory care communities, currently totaling 483 suites, is located in select regions within the United States.

Connect with Avenir: Website

About DealSquare

A joint initiative between NEO and Silver Maple Ventures, DealSquare, is Canada’s first centralized dealer platform for private placements, digitally connecting capital-raisers to investment dealers, their advisory networks, and their investors. With the complete roll-out of the platform in early 2020, DealSquare supports the entire private placement process: capital raisers publish their private placement opportunities; dealers complete their due diligence; and advisors electronically subscribe to a deal, with exempt securities seamlessly integrated into client accounts and back office systems utilizing NEO technology.

Connect with DealSquare: Website | LinkedIn | Twitter

About NEO

NEO is a group of established fintech companies that provide capital markets infrastructure designed for and led by the industry. NEO’s competitive drive, innovation, and advocacy enable change for the better. The NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment; and DealSquare, powered by NEO technology, is a platform that enables the distribution of financial assets not listed on a stock exchange in a way that reduces costs, minimizes operational risks, and improves the investor experience.

Connect with NEO: Website | Twitter | LinkedIn 

About Silver Maple Ventures

Silver Maple Ventures Inc. (“SMV”) is an exempt market dealer and holding company of FrontFundr Financial Services Inc. (“FrontFundr”) and DealSquare Technologies Inc. (“DealSquare”). With offices in Toronto and Vancouver, the SMV team are national leaders in the private capital markets, developing and operating two fintech platforms to provide access to private markets in Canada and simplify the transaction process.

 

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