November 14, 2024
Avenue, a full-service real estate development, construction, and investment group focused on innovative wellness-centered properties in healthcare, senior living and active adult, announced the appointment of Matthew Gorman as its new Chief Investment Officer (CIO). In this newly created role, Gorman will oversee the company’s investment strategies, capital allocations and growth across existing and forthcoming portfolios.
Gorman brings more than two decades of experience in asset management, investment banking and REIT leadership to Avenue, which is positioning itself for rapid growth, both 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. 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,” said Laurie Schultz, CCIM, Avenue principal and co-founder. “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. He also held the role of chief investment officer for IREIT by BGO, a private real estate investment trust specializing in the acquisition of income-generating, modern industrial warehouses and logistics facilities. IREIT is managed by an affiliate of BGO.
“In joining the team at Avenue, 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.”
Gorman has also held roles with GreenOak Real Estate, Barclays Capital, and Edward Rose Companies. An Indianapolis native, he attended Indiana University Kelley School of Business on a full scholarship and received a bachelor of science degree in real estate finance.
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, the highly innovative Viva Bene, is the first and only company to provide 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.