Avanti Residential Acquires The Avery Apartment Community
In an exciting development for the multifamily housing sector, Avanti Residential, a prominent nationwide multifamily investor and operator, has partnered with Centennial State Capital to successfully acquire The Avery, a distinguished apartment community. This acquisition signals Avanti's strategic growth and commitment to expanding its presence in key markets.
The Features of The Avery
The Avery, a remarkable property consisting of 200 units, was completed just last year and is designed for luxury living. Residents enjoy upscale amenities such as a resort-style pool, an entertainment deck equipped with an outdoor kitchen and fire pit, a state-of-the-art fitness center, and an inviting clubhouse. The apartments themselves are designed to impress, featuring luxury vinyl plank flooring, lofty 9-foot ceilings, and modern kitchens outfitted with stainless steel appliances. This acquisition further increases Avanti Residential's total units in Florida to 1,829 across seven separate properties, reinforcing the company's foothold in this vibrant state.
Leadership Insights on the Investment
Peter Partipilo, the Director of Acquisitions, expressed enthusiasm regarding the acquisition, stating, "Avanti is thrilled about enhancing our footprint in the Orlando region. The Avery not only provides investors with the chance to acquire a newly constructed asset at below replacement cost, but it also allows access to one of the busiest micromarkets for residential rental activity, making it an ideal investment opportunity." He also noted that the location provides residents with excellent accessibility to critical employment and educational hubs in the surrounding area.
Strengthening Partnerships for Growth
Mark Henderson from Centennial State Capital highlighted the mutual benefits of the acquisition, asserting, "We pride ourselves on our ability to identify unique investment opportunities. This acquisition highlights the strength of our partnership with Avanti Residential and our shared commitment to investing in high-quality assets. We believe that this new property will not only generate significant value for our investors but also offer a superior living experience for residents."
Avanti's Expanding Multifamily Portfolio
Avanti Residential is rapidly growing its portfolio and solidifying its status as a key player in the multifamily housing market. Currently, the company’s portfolio encompasses 9,604 units across 41 properties in eight different states, including Colorado, Kansas, Missouri, Arizona, Florida, Utah, Tennessee, and Georgia. This strategic expansion is indicative of Avanti's aim to meet the diverse housing demands of residents while providing attractive investment returns for their partners.
Commitment to Excellence in Living Experiences
Avanti Residential not only prioritizes attractive returns for its investors but also focuses immensely on delivering outstanding living experiences for its residents across all its properties. The management team is continually seeking new investment opportunities to enhance their already extensive portfolio and remains committed to achieving its growth aspirations.
About Avanti Residential
Founded in 2005 and headquartered in Denver, Colorado, Avanti Residential specializes in developing lifestyle-oriented multifamily communities throughout the U.S. With over 9,000 units in its portfolio, the firm operates a vertically integrated platform managed by an experienced executive team, each member boasting over 25 years of expertise in acquiring, operating, and creating value from multifamily properties. The company prides itself on its investment acumen, emphasizing personal accountability and collaboration to ensure exceptional value and risk-adjusted returns for its institutional venture partners and private capital investors.
About Centennial State Capital
Centennial State Capital is a Colorado-based real estate investment firm focused on acquiring and managing multifamily properties across the United States. They concentrate on thriving markets, including Colorado, Arizona, Florida, Texas, and Utah, with an aim to preserve capital and secure robust risk-adjusted returns for their investors through strategic acquisitions and intelligent development.
Frequently Asked Questions
What is The Avery?
The Avery is a premier 200-unit luxury apartment community recently acquired by Avanti Residential and Centennial State Capital.
Where is The Avery located?
The Avery is situated at 1000 Avery Village Loop, and is designed to provide upscale living conditions with emerging community amenities.
What types of amenities does The Avery offer?
The Avery boasts luxury amenities including a resort-style pool, entertainment deck, fitness center, and modern kitchens with stainless steel appliances.
How many units does Avanti Residential currently have?
Avanti Residential currently manages 9,604 units in 41 properties across eight states.
What is the primary goal of Avanti Residential?
Avanti Residential aims to provide outstanding living experiences for residents while delivering strong returns for its investors.
