Avanti Residential and Centennial State Capital partner on acquisition of The Avery in Orlando

In a major real estate acquisition, Avanti Residential and Centennial State Capital have acquired The Avery, a luxury 200-unit apartment community in Orlando, Florida, for $50.5 million. This latest investment, finalized on October 24, 2024, boosts Avanti’s total Florida portfolio to 1,829 units across seven properties. Located strategically in Orlando, The Avery is ideally positioned for easy access to employment centers and educational hubs, meeting rising demand in the area for premium, amenity-rich rental housing.

Avanti’s Strategic Expansion in Florida

The Avery, completed in 2022, features upscale amenities designed to appeal to residents seeking a luxury lifestyle. This includes a resort-style pool, entertainment deck with a kitchen and fire pit, and a state-of-the-art fitness center, along with stylish apartment features such as stainless steel appliances and luxury vinyl plank flooring. For Avanti Residential, this acquisition aligns with its growth strategy, capitalizing on high-demand markets and adding to its extensive portfolio of 9,604 units across eight U.S. states. Peter Partipilo, Avanti’s Director of Acquisitions, noted that this property offers investors a rare opportunity to own a high-value asset with strong market potential in Orlando.

Centennial State Capital’s Investment Vision

Centennial State Capital, led by CEO Mark Henderson, shared its enthusiasm for this latest acquisition, describing it as a testament to the successful partnership with Avanti Residential. Centennial’s strategy focuses on identifying high-growth markets with potential for strong, long-term returns. The firm has consistently sought opportunities in high-performing regions like Orlando, known for rapid growth and robust real estate demand. Henderson emphasized that the acquisition reflects Centennial’s ongoing commitment to providing investors with access to premium assets in thriving markets, a reflection of Centennial’s broader investment philosophy across the United States.

Growing Investment Portfolio and Future Plans

With this acquisition, Avanti Residential and Centennial State Capital further cement their status as major players in the multifamily real estate market, pursuing investment opportunities that align with economic and demographic trends in key regions. Both firms have committed to expanding their presence in growth regions, such as Florida, as part of a long-term strategy to deliver attractive returns for their investors while providing premium living experiences. This approach aligns with Avanti’s vertically integrated platform and investment acumen honed through nearly two decades in multifamily real estate.