Avenue Appoints Gorman Chief Investment Officer
November 18, 2024
INDIANAPOLIS, IN — Avenue, a full-service real estate development, construction, and investment group focused on wellness-centered properties in senior living, active adult, and healthcare, has announced the appointment of Matthew Gorman as its new chief investment officer. In this newly created role, Gorman oversees the company’s investment strategies, capital allocations, and growth across existing and forthcoming portfolios.
According to a press release, Gorman brings more than two decades of experience in asset management, investment banking, and REIT leadership to Avenue, which is positioning itself for growth in its existing niche of senior living and healthcare, as well as in the expanding active adult sector.
“Matthew is deeply passionate about developing innovative investment strategies,” said Principal and co-Founder Laurie Schultz, CCIM. “His proven track record of success aligns perfectly with Avenue’s mission to create high-quality, purpose-driven developments that positively impact our investors, our partners, and the communities we serve. His strategic expertise and vision will be invaluable in helping us expand our Viva Bene active adult development pipeline and acquisition strategy.”
Gorman most recently served as managing director at BGO (formerly BentallGreenOak), a global real estate investment firm with approximately $83 billion in assets under management.
“In joining the Avenue team, I see a unique opportunity to return to my entrepreneurial roots,” Gorman stated. “I’ve known Laurie for 20 years and greatly respect the work she’s done to advance our industry. This is the right time and place to focus on Avenue’s core strengths and expand from there. We anticipate a decade of solid tailwinds following recent market correction.”
Founded in 2015, Indianapolis-headquartered Avenue has developed a $500 million portfolio with 19 senior living, healthcare, and active adult properties across the U.S. This encompasses 1,400 senior living units and 1.5 million square feet of development including numerous primary care clinics.
Avenue’s newest brand, Viva Bene, provides a hybrid model blending mid-market priced rentals for adults aged 55-plus with onsite primary care and wellness services provided by Sevi Health. The nation’s first Viva Bene site, with 161 fully appointed apartments, resort-style amenities, and wellness-focused services, will have a phased opening through early 2025 in the St. Louis suburb of St. Peters, Missouri.