ORLANDO, FL - Avanti Residential, a nationwide multifamily investor and operator, and partner Centennial State Capital, announced the acquisition of The Avery, a premier apartment community located in Orlando, Florida. The transaction closed on October 24, 2024, for a total price of $50,500,000.
The Avery, a 200-unit community completed in 2022, is situated at 1000 Avery Village Loop, Orlando, FL 32825. The property offers a luxury living experience including a resort-style pool, entertainment deck with an outdoor kitchen and fire pit, state-of-the-art fitness center, and clubhouse. The Avery boasts stylish apartment features, from luxury vinyl plank flooring and lofty 9foot ceilings to modern kitchens with stainless steel appliances. This most recent investment closed in partnership with Centennial State Capital, brings Avanti Residential's total number of units in Florida to 1,829 across 7 assets, solidifying its presence in the state.
"Avanti is excited to expand its footprint in the Orlando area. The Avery allows our investors the opportunity to own a newly built asset at below replacement cost and peak rents within this micromarket. Furthermore, the asset's location offers residents excellent access to Orlando's key employment and educational hubs," says Peter Partipilo, Director of Acquisitions.
Mark Henderson of Centennial State Capital shares, "at Centennial State Capital, we take pride in our ability to identify unique investment opportunities. This acquisition reflects the strength of our partnership with Avanti Residential and our shared commitment to investing in high-quality assets in growth markets like Orlando. Together, we've acquired a premier, newly built asset that will generate value for our investors and provide an exceptional living experience for residents."
Avanti Residential continues to expand its portfolio and strengthen its position as a leading player in the multifamily industry. The company's portfolio now reflects 9,604 units across 41 properties in eight states: Colorado, Kansas, Missouri, Arizona, Florida, Utah, Tennessee, and Georgia.
Avanti Residential is committed to providing exceptional living experiences for its residents and delivering strong returns for its investors. The company is actively seeking additional investment opportunities and remains focused on its growth objectives.