Aventon Companies, a prominent, vertically integrated multifamily developer with active projects throughout the mid-Atlantic and Southeast, announced it has begun construction on its fourth apartment community within the Orlando metropolitan market. Aventon Opal will be a 308-unit, Class A, multifamily development, meeting Orlando's rapidly growing housing demand.
Situated on nearly 12.4 acres and standing tall with four and five-story buildings, Aventon Opal will offer top-of-the-line one, two and three-bedroom units, and amenities designed for luxury living including a resort-style pool with private cabanas, summer kitchen with grills and outdoor pizza oven, and a social lounge housing a wet bar, TV, and poker table. Residents will also enjoy a micro market, around-the-clock fitness center, and clubroom with a remote working lounge encompassing five private offices, numerous booths and communal workspaces as well as a conference room. The pet-friendly community also boasts a pet spa and dog park.
With home values in Orlando continuing to skyrocket and the market becoming one of the most desirable in the country given its year-round seasonable temperatures and proximity to the nation's entertainment capital, the need for high-quality housing is at an all-time high. We are excited to deliver another Aventon community which residents are able to proudly call home."
Burk Hedrick, Vice President of Development for Aventon Companies
The buildings comprising Aventon Opal were designed locally by Scott + Cormia Architecture & Interiors, based in Orlando, while the interiors were created by Beasley & Henley of Winter Park, Florida. Since 2019, Aventon Companies has assembled an impressive $1.5 billion portfolio of ground-up developments expected to bring nearly 6,000 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic. Aventon Opal will debut in 2023.
To realize the development Aventon Companies has elected to partner with PPF Real Estate, a subsidiary of PPF Group, as a co-investment partner. This investment will be the second by PPF Real Estate in the Orlando area, having acquired the SouthPark Center for $315 Million in December 2021. "PPF Real Estate is enthusiastic about the creation of a joint venture with Aventon Companies, a development firm with a strong track record of success. We look forward to replicating this partnership in other investments in the Sun Belt region," said Aaron Smith, Managing Director for PPF Real Estate.
About Aventon Companies
Aventon Companies acquires, develops, and manages multifamily communities in Florida, Georgia, the Carolinas and the Mid-Atlantic with regional offices in West Palm Beach, FL, Orlando, FL, Raleigh, NC and Bethesda, MD.
PPF Group operates in 25 countries in Europe, North America and Asia. It invests in multiple sectors, including financial services, telecommunications, media, biotechnology, real estate and engineering. The Group owns assets to the value of EUR 40.3 billion and employs 80,000 people worldwide (as of 30 June 2021).