2021 OC 50: Building Greater Ties to the Community

 Expanding opportunities—whether it be to healthcare treatment, to affordable housing, to employment, or other critical areas—in economically disadvantaged communities remains an ongoing challenge in OC and for all of the country. The following three execs are among those working toward a solution.

DARYL CARTER
Founder, Chairman, CEO
Avanath Capital Management LLC
Irvine

BIO: Runs one of the larger apartment owners based in OC. Firm acquires and operates affordable, age-restricted and workforce housing on behalf of institutional investors, counts more than 80 properties with a portfolio approaching 12,000 units; nearly 1,500 of those units have been added since the start of 2020. One of country’s largest proponents of investing in economically disadvantaged communities.

NOTABLE: Focus on affordable housing in OC of late with buys in Garden Grove, Anaheim. Deals, its first here, totaled more than $100M. Looking for more local opportunities.

QUOTABLE: “We are very bullish on the Orange County market,” Carter told Business Journal in April. “There’s a great need for affordable housing here, and we will continue to be active in scouting investment opportunities here.”

ERIK WEXLER
President of Operations
and Strategy, South
Providence
Based in Irvine

BIO: Heads healthcare giant’s southern footprint in California, Texas and New Mexico. Named to new role in January, previously ran Southern California Region for Providence, the Southland’s largest healthcare system. Regional organization anchored by 13 hospitals, over 90 outpatient centers, and four physician foundations. Local hospitals include St. Joseph Hospital-Orange, St. Jude Medical Center in Fullerton, and Mission Hospital in Mission Viejo and Laguna Beach.

NOTABLE: Last month, Providence partnered with Edwards Lifesciences and the cities of Irvine, Santa Ana, Costa Mesa and Tustin to open two mass vaccination clinics—a continuation of its efforts to expand healthcare services to more in the community, including underserved areas of the population. Providence provided $260M in overall community benefit with $27M in direct support to its community partners in OC last year.

QUOTABLE: “We believe health is a human right, and that health begins with a focus on wellness through primary care. We invest in the health of our communities by expanding access to care; educating challenged communities about healthy eating, fitness and preventive care; recognizing and managing social determinants of health; and addressing mental health as part of our commitment to whole person care. This all helps us realize our vision of health for a better world.”

REV. RALPH WILLIAMSON
CEO, President
COR Community Development Corp.
Irvine

BIO: Public face for business development offshoot of Irvine’s Christ Our Redeemer AME Church, the largest African Methodist Episcopal church in OC, where he is the pastor. The Spectrum-area group is a frequent partner with Avanath Capital; COR and Avanath count more than 600 affordable housing units in the state, and have made several deals together in the past year, including in OC.

NOTABLE: COR sees real estate deals as a way to expand the church’s presence in disenfranchised communities. “Rev. Ralph and his predecessor, Rev. Mark Whitlock, have been tremendous partners for us,” says Avanath’s Carter. “The organization supports our effort to create upward mobility and support in the communities we invest in by providing strong resident services and after-school programming.”

QUOTABLE: “Just like Avanath, we take a holistic approach when looking at real estate, providing social services and resources for members of our communities,” Williamson told the Business Journal in February. One way COR is doing that is by preparing to become a vaccine center for Orange County residents and “providing new opportunities for members of the community to visit African American churches,” he said.