Avanti Residential and Centennial State Capital Join Forces
Avanti Residential, a prominent nationwide multifamily investor and operator, is thrilled to announce its recent partnership with Centennial State Capital to acquire The Avery, an impressive apartment community. The deal reflects a significant investment in the multifamily sector.
Details of The Acquisition
The Avery is a 200-unit community that was completed recently, providing exceptional amenities tailored for modern living. With a purchase price of $50,500,000, this acquisition emphasizes the strong economic fundamentals in the multifamily market.
A Premier Living Experience
Located at a strategic spot, The Avery boasts a range of luxury features including a resort-style pool, an entertaining outdoor deck complete with a kitchen and fire pit, as well as a state-of-the-art fitness center. Each apartment unit is designed with modern touches, featuring luxury vinyl plank flooring, generous ceiling heights, and sleek kitchens equipped with stainless steel appliances.
Expanding A Network in Florida
This latest purchase enhances Avanti Residential's footprint in the Florida market, bringing its total unit count in the state to 1,829 across 7 properties. By acquiring The Avery, Avanti continues to solidify its position as a trusted name in multifamily living.
Operational Insight and Market Strategy
Peter Partipilo, Director of Acquisitions at Avanti, expressed enthusiasm regarding this new venture: "The Avery opens up investment opportunities for our stakeholders, and its excellent positioning within Orlando's key employment areas elevates its potential significantly."
Shared Values with Centennial State Capital
Mark Henderson from Centennial State Capital heralds this acquisition as a testament to their commitment to investing in premium properties. This synergy between Avanti Residential and Centennial State Capital aims at providing residents a top-tier living experience while generating value for investors.
Avanti's Growing Portfolio
As Avanti Residential continues its strategic growth, its portfolio now includes 9,604 units across 41 properties scattered over eight states. This expansion showcases the company’s dedication to enhancing the multifamily industry while focusing on high-performing markets.
About Avanti Residential
Founded in 2005 and located in Denver, Colorado, Avanti Residential has established itself as a leader in multifamily investments, promising to deliver rewarding living experiences and solid returns for investors. The firm prides itself on its vertically integrated operations, with an experienced team dedicated to achieving quality outcomes.
About Centennial State Capital
Centennial State Capital thrives on discovering real estate investments that promise high potential returns. With its focus on developing and managing multifamily properties across various thriving states, the firm leverages market insights to safeguard investor capital while pursuing growth.
Frequently Asked Questions
What is the significance of the acquisition of The Avery?
The acquisition of The Avery by Avanti Residential and Centennial State Capital marks a strategic investment in the multifamily sector, reinforcing their commitment to providing high-quality housing options.
How does The Avery differentiate itself from other properties?
The Avery offers luxurious amenities, chic apartment features, and is strategically located near Orlando's significant employment zones, ensuring a premium living experience.
How many units does Avanti Residential currently manage?
Avanti Residential manages a total of 9,604 units across 41 properties, indicating substantial growth in the multifamily market.
What is Centennial State Capital's investment focus?
Centennial State Capital specializes in acquiring, developing, and managing multifamily properties in high-performing markets, dedicating itself to generating sustainable returns for its investors.
How long has Avanti Residential been in the multifamily sector?
Avanti Residential has been a notable player in the multifamily sector since its founding in 2005, showcasing years of experience in property acquisition and management.
