Late this year, Avanti Residential partnered with FCP in the acquisition of Omnia on Thomas, a 382-unit apartment community in Phoenix, for $65 million. Recognized for its colorful exterior with a coveted American Society of Interior Designers (ASID) Adaptive Use Award, the project will receive a fresh capital infusion of approximately $12,000 per unit, largely in interior apartment upgrades.
“This is a unique opportunity to invest in a project and local submarket we know quite well, and with a known entity in FCP, a group with whom we have previous investment experience,” said Christian Garner, president of Avanti Residential. “This acquisition allows for a meaningful capital reinvestment in the property that will further enhance the resident experience.”
Omnia on Thomas is located at 1645 E. Thomas Rd., just east of State Route 51 and adjacent to Phoenix Children’s Hospital, with direct access to the Central Avenue Corridor and Camelback Corridor. The project features a mix of studio, one- and two-bedroom apartments, four swimming pools, a fitness center and five EV charging stations. Learn more at www.omniathomasbyavanti.com.