Avanath Pays $73.5M for Mixed-Income Orlando Rental Community
Avanath Capital Management acquired Retreat at Valencia, a 336-unit mixed-income apartment community near downtown Orlando. The property was acquired for $73.5 million and marks the firm’s seventh investment in the Orlando market.
As part of its investment strategy, the firm plans to maintain income restrictions on half of the units for renters earning 60% or less of the area median income (AMI) and operate the remaining units at market rates. Among planned services are financial counselling programs, health and wellness initiatives and tailored resident activities.
Built in 2001, Retreat at Valencia is located approximately 1 mile from Valencia College. Between these three communities, Avanath owns and manages ~900 apartments within a 3-mile radius generating significant economies of scale and driving down operating costs.
The property mix comprises 92 one-bedroom units, 132 two-bedroom units, 72 three-bedroom units, and 40 four-bedroom units. Community amenities include a fitness center, swimming pool, volleyball court, and two playgrounds, enhancing the property’s appeal to families and long-term residents.
Retreat at Valencia is located at 8413 Valencia Village Lane in Orlando, Florida.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout