Avanath Capital Management Acquires 240-Unit Affordable Community in Edison, New Jersey

EDISON, N.J. — Avanath Capital Management has acquired Menlo Manor, a 240-unit affordable senior housing community in Edison, for an undisclosed price.

Avanath acquired the property through its institutional fund, Avanath Affordable Housing III. 

The five-story property was built in 1980 and features a community room, exterior courtyard, library, dining area, community kitchen and automatic front doors. 

Located at 161 Inman Ave., the community includes a mix of studios, one-, and two-bedroom units. Alex Medeiros of CBRE represented the seller, Jeff Spragens.