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Florida & Gulf Coast  + Central Florida  + Apartments  | 
Avanath Capital Management, LLC, has acquired the City View residential and retail property in Orlando, FL, for $62.5 million.

Avanath Capital Management Buys $63M Mixed-Use in Orlando’s Parramore District

Avanath Capital Management, LLC, has acquired City View, a mixed-use, mixed-income property at 595 Church Street in Orlando, FL, for $62.5 million. Marcus and Millichap marketed the transaction.

Avanath acquired the property — made up of 266 multifamily units and 24,865 square feet of retail space — through a combination of its commingled fund equity and financing from JPMorgan Chase and Fannie Mae.

In alignment with Avanath’s mission, 131 units will be designated affordable with the property’s rent restrictions continuing until 2050. The designations are 28 units at 50% of area median income, 79 units at 60%, and 24 units at 120%.

“Ensuring access to quality affordable housing in this market is essential, especially as Downtown Orlando’s median rents have increased 19.3% over the past year,” said Daryl Carter, founder, chairman, and CEO of Avanath.

The acquisition of City View brings Avanath’s current Orlando portfolio to six properties totaling more than 1,500 units.


Inside The Story

Avanath Capital Management, LLC's Carter

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition