“The purchase of Park Avenue represents an off-market transaction sourced through MLG Capital’s historical relationships. Gainesville is home to the University of Florida, which is the state’s largest and oldest university, demand for housing is strong, and the market maintains high rent growth due to low vacancy,” said Ryan Mueller, Vice President of Acquisitions at MLG Capital.
Purchase Highlights:
MLG Capital acquired the property for $56 million.
Amenities include gourmet kitchens with European-inspired cabinetry, sleek granite countertops, wood-style flooring, spacious pantries, and stainless steel appliances. Other features include washer and dryer sets, USB charging station, 9-foot ceilings, walk-in closets, and luxury bathrooms.
The community offers a resort style beach entry pool surrounded by palm trees, hammocks and cabanas, a large grill station area with pergolas, and a dog park.
The clubhouse includes an iMac and PC cyber business center, self-service café, a state-of-the-art gym with circuit training, cardio machines, weights, yoga studio, fitness on demand, game tables and a media room.
