Avesta Communities Announces Acquisition in Jacksonville, Florida

    JACKSONVILLE, FL, December 14, 2014 /24-7PressRelease/ -- Avesta Communities announced today that it has completed the acquisition of the former Jennifer Green apartment complex located in Orange Park, Florida. The 120-unit apartment community has been renamed Avesta Park Village.

Avesta Park Village is located in the Orange Park submarket of Jacksonville. The Orange Park Medical Center and Naval Air Station Jacksonville are minutes away and employ 26,000 people collectively. The community consists of one, two, and three bedroom apartments across 18 two-story buildings. Featured amenities include a swimming pool, clubhouse, and washer/dryer connections in each unit.

"The acquisition of Avesta Park Village represents an opportunity to further expand our world-class Jacksonville team and serve even more residents," notes Operations Manager, Brooks Amster. "The growth into a new submarket, the difference we can make in such a short period of time with an acquisition like this - nothing is more thrilling in our business."

The multifamily owner-operator plans to implement a long-term capital improvement plan along with immediate interior and exterior renovations.

About Avesta Communities
Avesta is a rapidly-growing apartment investment and management firm based in Tampa, Florida. Since its founding in 2010, Avesta has acquired nearly 8,500 apartments throughout the Southeast, and has assembled a 200-employee team drawn from the best companies worldwide. Avesta's business model is to apply industry best practices to properties that historically under-served, middle-income renters call "home." Avesta's mission is to give people a home where they can live abundantly and create more community in the world. By striving to be the world's most resident-focused company, Avesta creates lasting value and serves each of its stakeholders: employees, capital partners, vendors, communities, and most importantly, its residents.

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