Innovation, Leadership, Integrity.
REAL ESTATE INVESTING
Graduate student housing in the northeast United States with a focus on highly ranked private universities with large graduate student populations and no on-campus student housing available.
OUR MISSION
We build vibrant student communities with the best service and customer experience through our hands-on management, roommate matching, and orientation events. Our housing makes a positive impact on the lives of our residents and their communities while creating value for our investors.
LEASING MODEL
Our investment model has a proven track record of success. With a marginal increase in operating cost, the model can double and sometimes triple the gross rental income as compared to traditional apartments.
Target Demographic: Graduate Students
Graduate students are perfect for our housing because they are responsible tenants looking for a quiet furnished apartment with utilities included in the rent price. They take care of the apartments and appreciate our roommate matching.
Through our hands-on management style we consistently achieve near 100% rent collection. We work to develop strong tenant relationships through excellent communication, attention to detail, and direct in-house leasing and maintenance teams for quality control and customer satisfaction. Rental collection payments are set up online one time, then paid automatically on the first of each month for the duration of the lease.
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INVESTMENT CRITERIA
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Top Tier Private Universities
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Located in the Northeast United States
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Large Graduate Student populations with limited on-campus housing
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Favorable zoning laws
HOW IT WORKS
Avance Capital, LLC provides investment opportunities to accredited investors with exposure to a niche segment of the student housing asset class through private placement syndications using a model designed to maximize revenue and hedge against macroeconomic risks.
Avance Capital, LLC uses innovative technologies to provide investors with a real time snapshot of their investment through the Yardi Investment Manager portal.
On average, real estate performs well over the long run. Historically, real estate has proven to be a resilient hedge against inflation. When interest rates rise, and the cost of home ownership goes up, the pressure on the rental market continues to increase. We are passionate about real estate and believe in the long term viability of the investments we make in this asset class.
HOW WE CREATE VALUE
We focus on and specialize in niche markets to create value for our investors. We developed a very specific model to invest in student housing in neighborhoods surrounding top tier private universities in markets with strong underlying fundamentals. We market to graduate students willing to pay a premium for this elevated product. We add value by repositioning existing multifamily properties traditionally rented by the apartment into student housing rented by the bedroom. We reconfigure the floorplan to maximize the number of bedrooms and bathrooms with the goal of achieving a minimum 2:1 bedroom to bathroom ratio. Renting apartments under this model by the bedroom with utilities included has more than doubled and sometimes tripled the rental income.
PORTFOLIO
Avance Capital, LLC and our affiliates currently manage more than 35 buildings with 60 apartments and 270 beds.
Properties in the Avance portfolio have the look and feel of luxury apartments with granite counters and stainless-steel appliances without superfluous amenities like a doorman or a gym.
92 Brown Street Waltham MA 02453
At Purchase:
6 Bedrooms
$85,800 Rental Income
After Renovation Projection:
16 Bedrooms
$310,380 Rental Income
171 Prospect Street Providence RI 02906
At Purchase:
24 Bedrooms
$120,000 Rental Income
After Renovation:
30 Bedrooms
$410,400 Rental Income
20 Sheldon Street Providence RI 02906
At Purchase:
5 Bedrooms
$54,000 Rental Income
After Renovation:
9 Bedrooms
$120,600 Rental Income
139 Adams Street Waltham MA 02453
At Purchase:
11 Bedrooms
$96,000 Rental Income
After Renovation:
17 Bedrooms
$258,600 Rental Income
52-54 Chester Avenue Waltham MA 02453
At Purchase:
8 Bedrooms
$60,000 Rental Income
After Renovation:
10 Bedrooms
$149,700 Rental Income
16 Governor Street Providence RI 02906
At Purchase:
12 Bedrooms
$108,900 Rental Income
After Renovation:
18 Bedrooms
$252,000 Rental Income
20 Governor Street Providence RI 02906
At Purchase:
12 Bedrooms
$108,900 Rental Income
After Renovation:
18 Bedrooms
$252,000 Rental Income
40 Governor Street Providence RI 02906
At Purchase:
4 Bedrooms
$28,800 Rental Income
After Renovation:
9 Bedrooms
$130,200 Rental Income
29 Creighton Street Providence RI 02906
At Purchase:
9 Bedrooms
$64,800 Rental Income
After Renovation:
12 Bedrooms
$165,000 Rental Income
5-7 Chester Avenue Waltham MA 02453
At Purchase:
6 Bedrooms
$44,400 Rental Income
After Renovation:
11 Bedrooms
$151,800 Rental Income
655-659 South Street Waltham MA 02453
At Purchase:
10 Bedrooms
$124,800 Rental Income
After Renovation Projection:
20 Bedrooms
$376,200 Rental Income
188-190 Ash Street Waltham MA 02453
At Purchase:
4 Bedrooms
$0 Rental Income
After Renovation Projection:
13 Bedrooms
$306,000 Rental Income
23 Washington Avenue Waltham MA 02453
At Purchase:
4 Bedrooms
$28,800 Rental Income
After Renovation:
12 Bedrooms
$181,200 Rental Income
TARGET MARKETS
Brown University - Providence RI
Yale University - New Haven CT
Brandeis University - Waltham MA
Carnegie Mellon University - Pittsburgh PA
University of Pennsylvania - Philadelphia PA
Columbia University - New York NY
INVESTOR QUALIFICATIONS
Investors must be accredited. The qualifications for accredited investors include either income of $200k+ or net worth of $1M+. For a complete description or what it means to be accredited, see the SEC Accredited Investor Definition.
THE SYNDICATION PROCESS
Raise Capital
Investors contribute equity toward private real estate investment opportunities.
Due Diligence
Underwrite properties for investment viability.
Acquisition
Avance acquires existing multifamily housing near top-tier private universities. Each fund has an expected life of 7-10 years.
Renovation
Reposition from multifamily to graduate student housing through extensive renovations. Optimize floor plans and maximize the number of bedrooms and bathrooms with the goal of achieving a minimum 2:1 bedroom to bathroom ratio.
Stabilize & Lease Up
Bring new property online, advertise, and rent to graduate students by the bedroom, furnished, with utilities included for one flat monthly payment. Graduate students tend to be more mature and responsible and are required to provide a lease guarantor.
Cash Flow & Appreciation
Once stabilized, properties generate positive cash flow, and distributions are made according to the proforma.
Historically, real estate values appreciate 5% per year.
Example: Investing $200k of equity to buy a $1M house, would mean that an increase of $50k (5% appreciation) on $200k (invested equity) results in a levered return of 25%.
Capital Event
At the end of the investment period the properties will be eligible for sale, refinance, or a 1031 exchange.
OUR TEAM
David Schwartz,
Founder & CEO,
Avance Capital, LLC
David Schwartz is a real estate developer with a vision and more than 15 years of experience in the real estate industry. In 2015, David developed the Avance investment model and founded Avance Capital to syndicate real estate investment opportunities in the graduate student housing space. David is disrupting the industry, buying and repositioning multifamily properties into graduate student housing across the northeast. He creates value and holds a competitive advantage by building a vertically integrating operation and leveraging technology to directly connect students with housing, and connect investors to real estate opportunities.
David earned his management degree in finance from the Weatherhead School of Management at Case Western Reserve University in Cleveland Ohio. He is a regular speaker and attendee at various industry conferences including IMN, NMHC, and BisNow. David speaks multiple foreign languages including Spanish, Hebrew and French. He enjoys soccer, lacrosse, running, golf, and surfing.
The word "avance" means to advance, to lead, and to go forward in Spanish, French, and Portuguese.
Harry Duval,
Analyst
Harry Duval is an investment analyst for Avance Capital. He is responsible for underwriting, market research, and project management. Harry built an interactive student housing database for every major university in the United States, which Avance Capital uses to make investment decisions. Harry works with contractors and suppliers, assisting in the oversight of the construction, renovation budgets, and schedules to ensure properties are brought online, and made operational on schedule. Harry graduated cum laude from the University of New Hampshire with degrees in Political Science and Business Administration.
CherylAnn McMorrow,
VP of Finance
CherylAnn brings to Avance over 25 years of experience in real estate management, development & accounting. As the Vice President of Finance, CherylAnn is responsible for overseeing Avance’s financial portfolio and is committed to Avance’s financial success.
Previously CherylAnn worked for a developer in Boston where she managed assets valued at over 1 billion dollars, including over 55 housing communities, healthcare, education/ student campus/dorms, single family homes, apartment complexes, storage facilities, music & art studios, mixed-use, industrial warehouse/distribution, and manufacturing space.
CherylAnn uses her extensive knowledge and experience to continually make the accounting at Avance more efficient, thus creating additional value for the investors.
Gary Carlow,
Office Manager
Gary Carlow joined Avance with over 30 years of experience in marketing and business management. Gary is responsible for managing the back-office functions to ensure efficient day-to-day operations.
Walter Abelenda,
Maintenance Manager
Walter Abelenda joined Avance with 25 years of construction and maintenance experience. Walter prides himself on responding to resident maintenance requests the same day, including on weekends. Walter brings his extensive construction skills and a positive outlook to resident service. Our tenants know that they can count on him, and Walter helps Avance to create outstanding resident satisfaction.
Jim Shea,
Construction Manager
Jim has over 35 years of construction management experience and a track record of cost-control and completing jobs on time and on budget. His solutions-oriented approach enables him to effectively oversee the laborers and vendors. He finds creative solutions to adapt to challenges that arise in the field without sacrificing quality. His most recent accomplishment before joining Avance was completing The Quin after a gut renovation of the former Algonquin Club on Commonwealth Ave in Boston, which is now recognized as one of the most exclusive private clubs in Massachusetts. Jim's first project with Avance included a gut renovation in Waltham, which was delivered on time and on budget. Jim is known for his hard work and attention to detail. His organized approach allows Avance to renovate multiple properties simultaneously. Jim is OSHA-30 and CPR/AED certified.
GET CONNECTED
We have spent nearly ten years in the student housing space studying and refining our investment, management, and leasing processes. Through continuous research, data analysis, and real-world market experience we bring professional expertise to everything we do. Investors who participate in our student housing investment offerings have full access to our reports.
For our latest reports on the real estate market, dynamics between inflation and interest rates, rents, and property values, please share your email below.
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Innovation, Leadership, Integrity.