Avila Apartments Owner LLC Acquires Avila Apartments In Oviedo For $84.3M

The Avila Apartments in Seminole County have been sold for $84.3 million to Avila Apartments Owner LLC. The multifamily property, consisting of 269 units, was completed in 2022. This transaction marks the second-largest deal in the Orlando area this year, contributing to LeCesse Development Corp.'s goal of building 5,000 multifamily housing units by 2026.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $84,300,000
• Units: 269
• Price Per Unit (PPU): $313,383
• Address: 2880 Avila Cross Circle
• Market: Oviedo

New York-based Avila Apartments Owner LLC acquired the Avila Apartments from Noma Weststate Acquisitions LLC. The deal was facilitated by brokers Brad Downing, Paul Grant, and Scott Ramey from Newmark. The transaction highlights the growing demand for multifamily properties and showcases the expertise and success of LeCesse Development Corp. in their pursuit of building more housing units in the Orlando area.