PRP Real Assets announced the acquisition of The Place on Millenia, a 371-unit class A multifamily property located in Orlando.
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 more than 1,100 square feet. The gated community features a resort-style pool, fitness center, private work-from-home offices, gaming area and outdoor entertainment areas. In addition to constructing a brand-new dog park, PRP will implement a comprehensive plan to renovate 200 classic units, modernize amenity spaces, integrate technological enhancements and increase customer service.
“Orlando is one of the strongest rental markets in the country, supported by robust population growth, new and ongoing infrastructure investment, and world-class employment opportunities,” said Matt Serenius, director of multifamily at PRP. “At The Place on Millenia, we are acquiring at a meaningful d
