A California-based private real estate investment management firm has acquired a mixed-use, mixed-income property in Orlando in hopes of preserving affordable living for the community.
Avanath Capital Management, LLC bought City View, a 266-unit property for $62.5 million. Located at 595 Church Street, the property also has 24,865 square feet of retail space. The firm brought the property through a commingles fund equity and financing from JPMorgan Chase and Fannie Mae. Marcus and Millichap's Affordable Housing Advisors marketed the transaction
Daryl Carter, founder, chairman, and CEO of Avanath, says the acquisition is a rare opportunity to create value and contribute to the community.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
