DENVER , Oct. 29, 2024 /PRNewswire/ -- Avanti Residential, a nationwide multifamily investor and operator, and partner Centennial State Capital, are pleased to announce 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 inves.
