PRP Real Assets (PRP) announced the acquisition of The Place on Millenia, a 371-unit Class A multifamily property located in Orlando, Florida.
Built in 2007 and partially renovated in 2021, The Place on Millenia is a garden-style apartment property offering one-, two-, and three-bedroom units averaging over 1,100 square feet. In addition to constructing a brand-new dog park, PRP will implement a comprehensive plan to renovate two hundred classic units and modernize amenity spaces.
“This acquisition reflects our continued focus on acquiring well-located multifamily assets at an actionable basis in growth markets. In addition to the entire PRP Multifamily team who created this opportunity, we greatly appreciate the multiple capital markets partners who joined us in this transaction including Kuwait Finance House, SMBC, Eastdil Secured, and Newmark,” said Jon McAvoy, Chief Investment Officer of PRP. PRP Real Assets is a privately held real estate investment and management firm headquartered in Washington, D.C
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