In P2P-based Virtual Environments (VEs), the efficient distribution and management of avatar and object states remains highly challenging. Objects change their states, but less frequently their positions in the VE. On the other hand, avatars frequently change their positions in the VE. The characteristic differences between objects and avatars generally lead P2P VE systems to focus on, and manage only, one of them. This paper addresses this issue, and proposes a twofold approach to data management in P2P-based VEs. Our system combines a structured P2P overlay used for object state management with a triangulation overlay used for avatar state and group membership management. Our system avoids overloading a given manager when avatar clustering occurs by using a flexible overlay for avatar management, while preventing unnecessary entity data transfer between managers by using a more stable assignment of objects to managers independently from avatars' positions in the VE. The performance and limitations of our system are shown by simulation results.