Aventon Breaks Ground in Orlando

Rendering of Aventon Opal. Image courtesy of Aventon Cos. Multifamily developer Aventon Cos. has broken…

Rendering of Aventon Opal. Image courtesy of Aventon Cos.

Multifamily developer Aventon Cos. has broken ground on Aventon Opal, a new Class A apartment community within the Orlando, Fla., metropolitan market. The 308-unit multifamily community, Aventon’s fourth within the area, will be situated on approximately 12.4 acres and will feature four- and five-story buildings.

Aventon opted to team with PPF Group subsidiary PPF Real Estate as a co-investment partner. This will be the second Orlando-area investment by PPF Real Estate, following its $315 million acquisition of SouthPark Center last December.

The rental property will offer one-, two- and three-bedroom floorplans. Common-area amenities will include a clubroom with a remote working lounge encompassing five private offices, a number of booths, communal work spaces and a conference room.

Designed locally

The Aventon Opal buildings were designed by Orlando-based Scott + Cormia Architecture & Interiors. The interior design was handled by Beasley & Henley of Winter Park, Fla. The apartment community is slated for first move-ins in 2023.

In a statement, an Aventon Cos. official noted skyrocketing Orlando home values reflect the desirability of the metro area, and have ratcheted to an unprecedented level the need for high-quality housing. Given that environment, the company is gratified to be able to help meet the rapidly growing housing demand in the market.

In recent years, the company has built a $1.5 billion portfolio of developments across Florida, Georgia, North and South Carolina and the Mid-Atlantic region.

In its prepared statement, a PPF Real Estate official said firm executives are enthusiastic about the creation of a partnership with Aventon Cos. and eagerly anticipate continuing the partnership in future Sun Belt region investments. Last month, an Orlando multifamily report indicated a strong performance.

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