Laurel Street, Avanath Launch Property Management Firm

Affordable Housing Finance, Christine Serlin, February 21, 2023Avion Point, a 200-unit multi-phase mixed-income apartment community for seniors and families in Charlotte, North Carolina, was developed by Laurel Street and will be transitioning to LSA Management.Laurel Street, a mixed-income housing developer and owner in Charlotte, North Carolina, and Avanath Capital Management, a multifamily owner and operator based in Irvine, California, have launched a property management firm. LSA Management leverages the firms’ expertise as long-term owners to provide best-in-class housing opportunities for renters at all income levels.

Headquartered in Charlotte, LSA Management provides property management services for all Laurel Street communities as well as Avanath’s communities in Georgia and North Carolina. This includes 3,000 units in Georgia, North Carolina, and Virginia, with another 2,000 units across the Southeast in firms’ development and acquisition pipelines. By 2030, LSA Management expects to have a management portfolio of over 10,000 units.

Laurel Street CEO and president Dionne Nelson and Avanath CEO chairman Daryl Carter are the founders and principals as well as co-presidents of LSA Management. Other key leaders from both Laurel Street and Avanath will serve as officers of the firm. Carly Stevenson, executive vice president of property management, will head up day-to-day operations.

“As an owner of mixed-income communities, we saw a need in the marketplace for a property management company that serves residents with excellence and provides exceptional customer service to all residents, regardless of their income level,” said Nelson. “Resident feedback will drive our priorities for activities and offerings for a customized approach supporting each community’s unique needs.”

The new firm’s name reflects the coming together of Laurel Street and Avanath on this endeavor, while a plus sign in the logo signifies an “above and beyond” commitment to high-quality operations and “adding value, every day” at its communities.

“By combining Avanath’s national institutional experience in property management and real estate investment with Laurel Street’s expertise in developing and preserving multifamily communities, LSA Management is uniquely positioned to add value for residents, team members, and partners,” Carter said. “The formation of LSA is aligned with our commitment to providing lifestyle within reach to residents throughout the country.”